énergie Fitness seeks investment for sale and international expansion

27 Apr 2018

énergie Fitness is searching for investors to acquire part of its fitness club franchising business and to provide financial support for its expansion across European and other markets.

énergie confirmed last week that it appointed Clearwater International and Canaccord Genuity to evaluate various options. The group boasts 140,000 members training at just over 100 franchised clubs, and it generates annual sales of about £30 million (€34.2m). Most of the franchises are budget clubs in the U.K., but énergie has started studying potential in many other markets, from Poland to Spain and beyond.

“One of the reasons is to give liquidity to the existing shareholders, and the second is to put capital into the business to allow for growth,” said Jan Spaticchia, the company’s chief executive and largest shareholder.

The franchise’s development in Europe, the Middle East and Africa (EMEA) has been entrusted to Jim Durie. He has been énergie’s partner for many years in Ireland, where he helped build up fifteen clubs. The company has set its sights on more remote markets as well, from India to Kenya, the U.S. and Australia.

énergie Fitness was nearly launched on the Alternative Investment Market (AIM) for smaller companies in 2012, but the plan was ditched due to wobbly capital markets. Along with Spaticchia, who holds a stake of about 30%, two other sizeable shareholders are Martin Ashley, a former insurance underwriter, and the Serrafina trust fund.

Read the full story in FNE#54.

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