Region: Benelux,
Sector: Consumer

Nature of business

Basic-Fit is the largest 'value for money' fitness club operator in Europe with over 350 fitness centres across Benelux, France and Spain.

Basic-Fit offers memberships from €17.99 per month compared to an average of €40 to €60 per month in the mid-market. Its operating model is based on a quality service with a no frills approach. Clubs are well-equipped, offer virtual group classes and 24 hour opening in some locations.

The company has a strong track record of growth, benefitting from the growing discount segment experienced in most consumer segments.

Investment overview

We invested €97 million into Basic-Fit in December 2013 at an enterprise value of €275 million. Our experience in international growth strategies and in the discount retail market have supported the company in realising its strategy.

The disciplined international roll-out strategy is underpinned by investments in the organisation and consumer trends of spending polarisation and the increasing focus on health and wellness. The combination of a professional organisation, strong brand and customer proposition and a well-invested estate have created a platform for further growth and enhanced profitability. Basic-Fit has undergone a period of transformational growth since our investment, increasing the number of clubs by 75%.

The founder and minority owner Rene Moos remained as CEO, and from our Business Leaders Network we introduced Ronald van der Vis as chairman, previously CEO of Pearle/Grand Vision and Esprit.

Basic-Fit announced its IPO on Euronext Amsterdam in June 2016, reducing our stake to 23.7% with total proceeds to 3i of c.£89 million.

Regulatory notice: This transaction involved a recommendation of 3i Investments plc, advised by 3i Amsterdam

3i office contact

Cornelis Schuytstraat 72
1071 JL Amsterdam
Tel: 0031 / 20 3057444
Fax: 0031 / 20 3057455

Private Equity Team
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