Martin Seibold named CEO of LifeFit Group as it confirms acquisition of Smile X
POSTED 23 Jul 2019 . BY Tom Walker
We are forming a portfolio that can comprehensively serve the fitness market and offer each customer the right product – Martin Seibold
Germany-based LifeFit Group has added regional operator Smile X to its growing portfolio of fitness brands.
Smile X, described as a “high-value-low-price” operator, currently has 17 clubs in the Saarpfalz (Saar-Palatinate) region of South West Germany – with a further five in its development pipeline. It offers members a wide selection of affordable training options, from traditional gym floors and personal training to group classes and vibration training.
Smile X will join LifeFit Group's five other brands – Fitness First Germany, Barry's Bootcamp, The Gym Society, elbgym and the fitness app NewMoove – in a growing portfolio of companies.
LifeFit Group, which is majority owned by Oaktree Capital, was set up earlier this year to acquire and operate a diverse selection of fitness operators in order to cater for different segments in the booming German market.
Long-time Fitness First executive Martin Seibold has been named CEO of LifeFit, which – following the Smile X deal – will operate nearly 90 clubs serving 275,000 members.
“The LifeFit Group has an enormous potential for growth and success," said Federico Alvarez-Demalde, senior VP at Oaktree Capital Management, manager of the funds with which LifeFit Group was founded.
"With the brands in our portfolio positioned across the growing market segments, we are in an excellent starting position to establish the LifeFit Group and turn it into the most relevant fitness and health platform in Germany."
Seibold said: “What we have already achieved in such a short time is incredible.
"The brands and their concepts are very different, which is why they complement each other to form a portfolio that can comprehensively serve the fitness market and offer each customer the right product.”
The acquisition of Smile X – for an undisclosed sum – will be financed through a €40m bond offer. The bonds, maturing in July 2023, will be listed on the Open Market of the Frankfurt Stock Exchange.
Operator Circadian Trust has launched a five-year growth drive designed to
support health and wellbeing across South Gloucestershire, UK. The initiative
will see a £2.4m investment in its five Active Lifestyle Centres.
Norwegian health club operator, Treningshelse Holding, which owns the Aktiv365 and Family
Sports Club fitness chains, has acquired fellow Norwegian operator, Aktiv Trening.
The HCM team were busy at the recent FIBO Global Fitness event in Cologne, Germany,
distributing a special FIBO edition of HCM in support of the event as its global media
partner.
As one of the most energy-intensive industries in the UK, leisure facilities face a critical
challenge in balancing net zero goals, funding and increased costs. [more...]
+ More featured suppliers
COMPANY PROFILES
Physical
Physical is the UK’s go-to, one-stop shop for commercial grade fitness equipment and flooring, with [more...]
Orbit4
Orbit4 is the ultimate software solution for operators to manage their fitness facility. [more...]
Martin Seibold named CEO of LifeFit Group as it confirms acquisition of Smile X
POSTED 23 Jul 2019 . BY Tom Walker
We are forming a portfolio that can comprehensively serve the fitness market and offer each customer the right product – Martin Seibold
Germany-based LifeFit Group has added regional operator Smile X to its growing portfolio of fitness brands.
Smile X, described as a “high-value-low-price” operator, currently has 17 clubs in the Saarpfalz (Saar-Palatinate) region of South West Germany – with a further five in its development pipeline. It offers members a wide selection of affordable training options, from traditional gym floors and personal training to group classes and vibration training.
Smile X will join LifeFit Group's five other brands – Fitness First Germany, Barry's Bootcamp, The Gym Society, elbgym and the fitness app NewMoove – in a growing portfolio of companies.
LifeFit Group, which is majority owned by Oaktree Capital, was set up earlier this year to acquire and operate a diverse selection of fitness operators in order to cater for different segments in the booming German market.
Long-time Fitness First executive Martin Seibold has been named CEO of LifeFit, which – following the Smile X deal – will operate nearly 90 clubs serving 275,000 members.
“The LifeFit Group has an enormous potential for growth and success," said Federico Alvarez-Demalde, senior VP at Oaktree Capital Management, manager of the funds with which LifeFit Group was founded.
"With the brands in our portfolio positioned across the growing market segments, we are in an excellent starting position to establish the LifeFit Group and turn it into the most relevant fitness and health platform in Germany."
Seibold said: “What we have already achieved in such a short time is incredible.
"The brands and their concepts are very different, which is why they complement each other to form a portfolio that can comprehensively serve the fitness market and offer each customer the right product.”
The acquisition of Smile X – for an undisclosed sum – will be financed through a €40m bond offer. The bonds, maturing in July 2023, will be listed on the Open Market of the Frankfurt Stock Exchange.
Operator Circadian Trust has launched a five-year growth drive designed to
support health and wellbeing across South Gloucestershire, UK. The initiative
will see a £2.4m investment in its five Active Lifestyle Centres.
Norwegian health club operator, Treningshelse Holding, which owns the Aktiv365 and Family
Sports Club fitness chains, has acquired fellow Norwegian operator, Aktiv Trening.
The HCM team were busy at the recent FIBO Global Fitness event in Cologne, Germany,
distributing a special FIBO edition of HCM in support of the event as its global media
partner.
The fitness sector’s pivot to active wellbeing is being discussed in a new weekly podcast, called
The Conveners, and hosted by chair of GM Active and director of Miova, Andy King with
industry veteran, John Oxley, as a guest presenter.
As one of the most energy-intensive industries in the UK, leisure facilities face a critical
challenge in balancing net zero goals, funding and increased costs. [more...]
+ More featured suppliers
COMPANY PROFILES
Physical Physical is the UK’s go-to, one-stop shop for commercial grade fitness equipment and flooring, with [more...]
