Providence buys Altafit for more than €150 million: Advisors
VivaGym, owned by Providence Equity Partners, has reached an agreement with the investment fund MCH to acquire the Altafit gym chain. The transaction includes the acquisition of 70 gyms in operation throughout Spain and 8 additional centers in pre-sale.
The acquisition of Altafit is a further step in the consolidation of the low-cost gym sector in Spain and creates the second largest national sports operator with nearly 200 establishments and 350,000 members.
With the acquisition, VivaGym will have a total of 192 centers in Iberia, spread over 151 gyms and 15 in the process of opening in Spain. In addition, 41 gyms will be added in Portugal, bringing the total number of gyms on the Iberian Peninsula to 207, reaching a figure of close to 500,000 members.
Deloitte Legal has advised Providence Equity Partners and its subsidiary VivaGym with a team formed by José María Gómez Rosende (partner), Alejandro Gil Miguel (senior associate) and Covadonga Muñoz González (senior associate).
