23 April 2019 – Palco 23
SmartFit has completed the purchase of two Perfect Fit clubs in Girona and Terrassa (Barcelona), according to market reports. As part of the deal, the company has also taken over the management of a third centre in Mollet del Vallés, with the option to purchase that asset before the end of 2019.
The financial terms of the transaction have not been revealed but SmartFit is expected to invest around €1 million over the next year and a half in adapting the spaces and modernising some of the equipment. Its aim is to increase the membership base of each club by 40% from the current level of 6,000.
This is not the first time that the company has resorted to growth through acquisition after it purchased a gym in Cádiz in 2016 and another in Rivas (Madrid) last year. Nevertheless, it is SmartFit’s first foray into Cataluña, having previously focused its growth on the Community of Madrid and Andalucía.
The company closed 2018 with revenues of €3.5 million, up by 20.6% YoY.
Original story: Palco 23 (by Patricia López)
Translation/Summary: Carmel Drake