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Martin Seibold named CEO of LifeFit Group as it confirms acquisition of Smile X
23 Jul 2019 . BY Tom Walker

Smile X, which operates 17 clubs in south west Germany, becomes the sixth brand in LifeFit's portfolio
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.

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Jobs   News   Products   Magazine
PRODUCT NEWS
Martin Seibold named CEO of LifeFit Group as it confirms acquisition of Smile X
23 Jul 2019 . BY Tom Walker

Smile X, which operates 17 clubs in south west Germany, becomes the sixth brand in LifeFit's portfolio
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.

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The rise of the training pod
Belfast based gym equipment manufacturer BLK BOX designs, engineers and fabricates a range of rigs for the most elite, performance-driven organisations globally.
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In response to the pandemic, TRX, the global leader in functional training equipment, world- class training content, and app-based training technology, transformed its TRX Suspension Training Course into a free, live virtual edition via Zoom.
Gympass partners with F45 Training to bring functional team training to world's largest corporate fitness platform
Gympass, the world’s largest corporate fitness platform, has announced a partnership with F45 Training, one of the world’s fastest-growing fitness franchisors that will give its corporate members access to their global network of workout facilities.
Fisikal chosen as tech partner for ‘JP4’; new health app from fitness expert, Jessie Pavelka
Fitness expert and television host, Jessie Pavelka has collaborated with Fisikal, experts in digital management solutions, to create the new JP4 app, a premium 12-week personal health and fitness transformation programme that takes the user on a journey of change through four key elements of health.
Let's get restarted: Physical Company offers advice on keeping gym members safe
As countries around the world gear up to relax their lockdown rules, there remains a question mark over gyms and studios, which in many markets will be one of the last sectors to be given the green light.
myFitApp launches branded live-streaming as part of its COVID-19 support package
Innovatise, the company behind myFitApp, has announced the immediate availability of its customer- branded live-streaming solution.
EGYM presents Corona Gym Solution, for the successful re-opening of fitness studios
Finally, the time has come: fitness and health facilities around the globe are gradually resuming operations.
Bicester hotel opens purpose-built performance facilities to attract new target audience
The Bicester Hotel and Spa has launched purpose-built fitness and performance facilities to create a standalone, unique offering to attract a new demographic to the site.
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Ritz-Carlton, Miami, United States
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ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2020

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
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LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS