MCH buys Altafit

Tikehau Capital, alongside Banco Santander, provided a €21.8m term loan to finance MCH's acquisition, as well as a €10m capex facility to finance the opening of new clubs and potential acquisitions of smaller players.

According to press reports, the deal values the company at around €40-60m.

Minority shareholders José Antonio Sevilla and Vicente Olivenza will stay on with the company as managing director and president, respectively, while Ignacio Suárez will be appointed as new CEO by MCH.

Following the deal, Altafit will be merged with iFitness, recently acquired by the company. The combined group will operate 57 centres and serve 130,000 clients.

The GP plans to support the company's growth and expansion with a buy-and-build strategy, as well as opening new sites under the existing brand.

MCH is currently investing via its MCH Iberian Capital Fund IV, which held a €350m final close in May 2017, surpassing its €300m target.

Company
Founded in 2011 and headquartered in Madrid, Altafit manages 40 gyms across Spain and employs around 400 staff. According to press reports, the company recorded a turnover of €25m in 2016.

People
Altafit – Ignacio Suárez (CEO); Vicente Olivenza (president); José Antonio Sevilla (managing director).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Southern Europe
• Consumer
• MCH Private Equity
• Spain
• Tikehau Capital