MCH closes the acquisition of Altafit and iFitness gyms

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Date: 30-Jul-2018

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Source: europapress.es

The MCH Private Equity group has announced the closing of the purchase of Altafit and Ifitness gymnasiums, which together total 57 centers with 130,000 members, representing 22% of low-cost sports facilities in Spain, according to a statement.

 

Logo Altafit

The acquisition will be financed through a loan of 21.8 million euros, as well as a capex line of 20 million euros for the distribution of new gyms and the possible acquisition of other smaller operators, a line of credit that has been secured by the fund manager Tikehau Capital and Banco Santander.

 

"With this acquisition we are committed to the low-cost fitness segment, which has increased its relevance in the fitness market in the last decade," said MCH Private Equity partner Andrés Peláez.

 

The head of Iberia in TIkehau Capital, Carmen Alonso, has said that this operation, which the fund supports with the credit line, will create the operator of the country's largest low-cost gyms.

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