Magenta invests €1.4m in El Gym
British private equity firm Magenta Partners has invested €1.4m in low cost fitness group El Gym.
The budget gym chain plans to open its first centre in a new office complex in Plaza Europa, near Barcelona, in April. Its aim is to establish a network of 40 gyms across Spain over the next five years.
Magenta's backing of the company follows on from its successful investments in other sports clubs in the UK, Germany and the US. It was advised on the deal by BNP Paribas Real Estate.
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