AFINUM sells Let's Go Fitness to Naxicap Partners
AFINUM Siebte Beteiligungsgesellschaft mbH & Co. KG, advised by AFINUM Management GmbH, has sold the investment in the Let's Go Fitness Group to Naxicap Partners, a subsidiary of Natixis Investment Managers. Let's Go Fitness, based in Lausanne, is the largest operator of fitness centers in French-speaking Switzerland. With its positioning in the upper middle, Let's Go Fitness serves the growing segment of discerning and health-oriented members through modern center equipment, professional training support and a comprehensive course and wellness program.
Together with AFINUM, Let's Go Fitness has since September 2014 increased the number of its studios from 28 to 52 and the number of members from around 30,000 to more than 50,000. Both organic and inorganic growth initiatives have successfully contributed to this. Since the acquisition of Let's Go Fitness, Fit Plus, Physic Club, Physic 2000, Fit Heaven, Fitbudget, California Fitness and Atlantide have been acquired with a total of 14 centers. Overall, revenue has almost doubled since 2014, with persistently high margins.
During the AFINUM investment period, the company has solved itself by the internal regulation of succession from the founders dependence. Not only were management structures widened and professionalized, but financial reporting and systems (eg CRM) were also adapted to the increased requirements. In addition, AFINUM has successfully assisted the company in digitizing the business model and processes where Let's Go Fitness is today by far the leading provider in the Swiss fitness market.
The management continues to set itself ambitious goals and also participates in the group under the new owner. We are convinced that Let's Go Fitness, under new ownership with Naxicap Partners, will continue its successful development.
Pictures: Let's Go Fitness