Providence Equity Partners has agreed to acquire French fitness operator Fitness Park from founder Philippe Herbette and a consortium of investors including Future French Champions and Momentum Invest.
Providence will acquire the business from founder Philippe Herbette, Future French Champions, Momentum Invest, M Capital Partners and members of the Fitness Park management team.
Fitness Park operates more than 300 clubs across metropolitan France and over 450 locations worldwide, serving nearly 1.7 million customers. The acquisition represents an investment in what Providence described as one of France’s leading fitness operators, with the business continuing to target growth across its international estate. Financial terms of the transaction were not disclosed.
The deal marks another private equity investment in Europe’s fitness sector, underlying continued investor interest in established health and leisure businesses across the region.
The transaction also marks a change in the company’s capital structure, providing a full exit for incumbent shareholders as Providence assumes control. The secondary buyout involves several financial sponsors and the business’ founder, alongside members of its management team.
Global law firm White and Case advised on the transaction, with its team led by partners Alex Hojabr in Paris and Richard Jones in London. London-based partner Jessica Kemp also worked on the deal, alongside colleagues from the firm’s Brussels and Paris offices.
