Bridges acquires low-cost gym franchiser Énergie Fitness

Énergie Fitness intends to roll out its brand across new sites under its new owners.

Bridges has a track record of investing in the low-cost gym space, having previously co-launched The Gym Group, and backed Impact Fitness in the US and Viva Gym Group in Portugal and Spain.

The GP has introduced Viva Gym chairperson Mark Heappey as chair at Énergie Fitness. Bridges CEO Philip Newborough and investment manager Alison Price will also take seats on the company's board of directors.

According to a statement, the company's focus on "small-box format gyms" means it is well-suited to being rolled out across areas that have previously not benefited from access to low-cost gyms. Bridges also stated that relatively low start-up costs associated with the format and Énergie Fitness's established franchise model reduce the risk for prospective small business owners.

RM Funds provided a debt package to support the transaction.

Company
Founded in 2003 and headquartered in Milton Keynes, Énergie Fitness is a fitness and gym brand that operates on a franchise model. The model is intended to encourage a greater focus on customer service and foster greater interaction between gym owners, their members and their local communities. The group has 100 franchises across the UK and Ireland.

People
Bridges Fund Management – Philip Newborough (CEO); Alison Price (investment manager).
Énergie Fitness – Jan Spaticchia (founder); Neil King (CEO).

Advisers
Equity – Burges Salmon (legal); Lincoln International (debt advisory).
Vendor – Clearwater International, Richard O’Donnell, Zack Goddard, Paris McNicol-Outch (corporate finance).

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