Portobello acquires gym group Supera

The deal marks the second investment from the GP's latest fund, Portobello Capital Fondo IV, which held a €500m first close in July 2017. According to the Spanish press, the deal values Supera at €150-200m. 

With the fresh capital, Supera intends to open new gym centres in Spain and Portugal.

Portobello has attracted commitments totalling €570m for its fourth buyout fund, Portobello Capital Fondo IV, and is targeting a final close before the end of the year.

Company
Founded in 1993 and based in La Coruña, Spain, Sidecu operates 29 concession-based sports centres and nine private centres between Spain (Galicia, Asturias, Castilla y León, Castilla-La Mancha, Madrid, Valencia and Andalusia) and Portugal (Lisbon).

The company currently employs a staff of 1,100 and expects a turnover of €44m in 2017.

People
Portobello Capital – Iñigo Sánchez-Asiaín (co-founding partner).
Supera – Guillermo Druet (CEO).

Advisers
Equity – PwC (financial due diligence, tax); Bain & Co (commercial due diligence); Pinsent Masons (legal).
Company – Greenhill & Co (M&A); Garrigues (legal). 

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