Bridges Fund Management has acquired énergie Fitness
Lincoln has supported Bridges on its second transaction in the last two months, after providing financing advice for their acquisition of GEV Wind Power.
énergie is currently the third-largest low-cost gym provider in the UK and the leading low-cost gym franchisor in Europe. It has sold 60 franchises in the past year; and with Bridges’ support, it is aiming to roll out another 30-40 new gyms per year.
Through its scalable franchise model, énergie empowers individuals to start their own low-cost gym and succeed as small business owners. On average, 50% of SMEs fail within five years, but for UK franchise owners, the equivalent figure is less than 1%.
Philip Newborough, co-CEO at Bridges, commented, “We know this sector very well and we believe énergie has identified a clear gap in the market: smaller-format, high-service gyms that can operate in areas where the large box gyms would not be able to. This allows énergie to tap into demographics that would not otherwise have access to health and fitness facilities, driving better health outcomes for these underserved populations. énergie has built a great team, and we’re looking forward to working with them to prove this model in the UK and then potentially look at expansion opportunities overseas.”
Aude Doyen, Managing Director at Lincoln International, commented, “It has been a pleasure working with Bridges again, and making a contribution to their impact investing approach. We were able to leverage our deep relationships within the lending community to source, structure and deliver a financing package that will support the next phase of énergie’s growth.”
Lincoln were instrumental to securing this financing partnership – and a pleasure to work with.
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