BaltCap’s Impuls expands with Arctic Sport Clubs bolt-on

Impuls will acquire all of ASC's shares in the transaction, which will create the first fitness centre group with operations across the Baltic states.

BaltCap acquired Impuls LTU in 2011, through the GP's BaltCap Lithuania SME Fund, a €20m vehicle raised in 2009 and funded predominantly by European Investment Fund through its Jeremie holding fund.

Impuls LTU is a fitness centre group headquartered in Vilnius. The company operates premium and low-cost fitness chains in Latvia, Lithuania and Estonia. Founded in 2004, Impuls's projected revenue for 2015 is €11m following the acquisition of ASC.

The deal is subject to regulatory approval and expected to complete by year-end.

Debt
A financing package will be provided by Nordea.

Company
Headquartered in Tallinn, ASC owns and operates two large fitness centres in Tallinn and Tartu.

The company has 4,000 members and employs a staff of 89. ASC's projected revenue for 2015 is €2.3m.

People
Kornelijus Celutka is an investment director at BaltCap. Rein Reitalu is the CEO of ASC.

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• Topics
• CEE
• Expansion
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