Fitness First acquired by BC Partners

The sale of Fitness First to BC Partners marks a significant milestone in the company's history, as it transitions from one private equity owner to another. The deal is a testament to the success of Cinven's investment strategy, which focused on transforming Fitness First into a global market leader through a range of strategic initiatives. These initiatives included controlling the company's rapid expansion, realigning its new club opening program to focus on high-growth regions, introducing new management to drive operational and retail disciplines, and optimizing the company's balance sheet through sale and leasebacks of its freehold assets. As a result of these efforts, Fitness First has achieved significant growth and improvement in its financial performance, with EBITDA increasing by 85% since 2002. The company's future objectives are centered around continuing to drive growth and expansion, both organically and through strategic acquisitions, while maintaining its focus on delivering exceptional customer experiences and driving business excellence. The sale to BC Partners is expected to provide Fitness First with the necessary resources and support to achieve its goals, and to drive long-term value creation for its stakeholders. The deal also highlights the attractive growth prospects of the fitness industry, and the potential for private equity firms to drive value creation through strategic investments in high-quality businesses.