Nature of Business
Benelux-based Basic-Fit is the leading discount fitness chain in Europe with 200 fitness centres in four countries. It currently has 95 clubs in the Netherlands, 79 in Belgium, 17 in Spain and 9 in France.
Basic-Fit offers memberships from €15.95 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.
We invested c.€110 million (c.£93 million) into Basic-Fit in November 2013 and the enterprise value of the transaction was c.€275 million. The founder and minority owner Rene Moos will remain CEO.
Basic-Fit has demonstrated strong growth since its establishment, driven by the consumer trends of spending polarisation and the increasing focus on health and wellness. It will continue its club roll-out in the Benelux and build a stronger presence in both Spain and France.
From our Business Leaders Network we introduced Ronald van der Vis as chairman (he was previously CEO of Pearle/Grand Vision and Esprit).
3i’s experience in international growth strategies and in the discount retail market will be used to support the company in realising its strategy.
On behalf of 3i, Pieter De Jong, Boris Kawohl and Robert Van Goethem will join the board.
Regulatory notice: This transaction involved a recommendation of 3i Investments plc, advised by 3i Amsterdam
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