Waterland-backed Hansefit combines with BFNL

The new group will have a total of 3,500 clients, and partnerships with 5,000 providers in its network of sport and fitness centres.

The founders and managing directors of BFNL, Klaas Hamstra and Jacco Borger, will become shareholders in Hansefit and remain the heads of the Dutch business.

The deal was proactively sourced by Hansefit's management.

Unquote understands that the company is contemplating future acquisitions, and is reviewing markets in western and northern Europe.

Apobank provided debt financing for the deal.

Waterland acquired 50% of Hansefit in June 2018, deploying from Waterland Private Equity VII. According to a statement, Waterland has so far invested in Hansefit's systems, its partner network and the digitalisation of the business.

Company
Founded in 2007, BFNL has a headcount of 20 and reports revenues of €25-50m. It has partnerships with 1,700 Dutch businesses, and provides their employees with a network of sport and fitness facilities.

People
Bedrijfsfitness Nederland – Klaas Hamstra, Jacco Borger (founders, managing directors).
Waterland Private Equity – Gregor Hengst (principal).

Advisers
Equity – Bain & Company (corporate finance); Deloitte (financial due diligence); Hengeler Mueller (legal); Lexance (legal).

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• Topics
• Portfolio management
• DACH
• Consumer
• Germany
• Waterland Private Equity
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