Portobello nears deal for gym chain Supera

Amedeo Goria
23 October 2017

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Spanish private equity investor Portobello capital is close to entering into exclusivity over the acquisition of Spanish gym chain manager Supera, unquote" understands.

According to Spanish publication El Economista, several private equity and infrastructure fund managers are competing for the asset.

Portobello is understood to be close to acquiring the business, with a deal possible by the end of the year. The transaction is reported to value the business at €150-200m EV.

A few months ago, the company's main shareholder Fernando Chinchurreta, who currently owns a 37.7% stake, mandated the sale to corporate finance house Greenhill.

Established in 1993, Supera is the commercial brand of sport facility builder Sidecu. It manages 29 sports centres across Spain with an additional location in Lisbon. The group posted €41.5m in revenues and €15m in EBITDA in 2016, according to local press reports.

At the time of publication, Portobello was not available for comment.