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LifeFit Group Secures New Investor: Waterland Private Equity to Drive Growth in European Fitness Market
2024-10-01
source own
German health and fitness operator LifeFit Group has announced Waterland Private Equity Investments as its new strategic investor, with the deal expected to close later this year. This partnership will provide LifeFit Group with the financial backing and expertise needed to accelerate its growth strategy, building on its impressive expansion since its founding in 2019. With support from outgoing investor Oaktree Capital, LifeFit has grown from around 50 clubs to over 140, serving more than 400,000 members.
Waterland, a European investment firm with significant experience in the health and fitness sector, is poised to help LifeFit Group strengthen its position in the market. Waterland has a proven track record, having previously invested in Basic-Fit, helping the low-cost chain become the second-largest health club operator in Europe. It also supported the growth of Hansefit, a leading corporate health and wellness provider, which it sold to Epassi Group in early 2024.
With Waterland’s expertise and financial resources, LifeFit Group is expected to continue expanding its portfolio of brands, which includes Fitness First, Elbgym, Barry’s, The Gym Society, and Club Pilates, among others. CEO Martin Seibold, who led the company through the challenges of the pandemic, remains confident in Waterland’s ability to accelerate the company's growth and strengthen its leadership in the European fitness industry.
Seibold expressed excitement over the partnership, stating, "With Waterland’s support, we are confident in our ability to continue on our chosen path and further expand our business." Waterland, in turn, emphasized its commitment to helping LifeFit become a leading player in the region, citing significant growth potential in the European fitness market.
Outgoing partner Oaktree Capital played a crucial role in supporting LifeFit through the pandemic, investing over €50 million. Now, with Waterland's investment, LifeFit is well-positioned to drive forward its vision of becoming a dominant force in the European fitness industry.
