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.
Cryotherapy supplier Art of Cryo has created a new 12-person walkthrough cryotherapy chamber
at Cryo Center Coolzone Madeira, claimed to be the largest cold therapy treatment experience
in the world.
Egym has introduced Open Mode on its Smart Strength machines, enabling them to be used as a
replacement for traditional weights on the fitness floor, rather than solely as circuit-based
machines.
Myzone has announced the launch of MZ-Open, an access function that enables Myzone gym users
to experience all the benefits of Myzone’s world-renowned heart rate training biome through
their pre-owned Apple or Android smartwatch.
Cardiff-based gym design and installation company, Absolute Performance, has been awarded
the contract to design, supply and install three gyms for Team GB for the 2024 games in
Paris.
As Third Space unveiled its latest club in Wimbledon at the end of 2023 as part of its growth
development into suburban, residential locations, it also revealed a new state of the art
Reformer Pilates studio at the new site in response to members seeking a low-impact, full-
body workout for all abilities.
Developed for the world of medicine, tailored to the needs of modern fitness studios. The
seca TRU seamlessly provides medical expertise for health-focused training with a clinically
validated body composition analysis meeting the health and fitness industry's evolving
demands.
Precor made history in 2011 with the launch of the first connected fitness console. Since
then, exercisers from over 340,000 facilities across 100 countries have completed an
astonishing 1.2 billion workouts and counting on Precor-connected fitness cardio products.
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.
Cryotherapy supplier Art of Cryo has created a new 12-person walkthrough cryotherapy chamber
at Cryo Center Coolzone Madeira, claimed to be the largest cold therapy treatment experience
in the world.
Egym has introduced Open Mode on its Smart Strength machines, enabling them to be used as a
replacement for traditional weights on the fitness floor, rather than solely as circuit-based
machines.
Myzone has announced the launch of MZ-Open, an access function that enables Myzone gym users
to experience all the benefits of Myzone’s world-renowned heart rate training biome through
their pre-owned Apple or Android smartwatch.
Cardiff-based gym design and installation company, Absolute Performance, has been awarded
the contract to design, supply and install three gyms for Team GB for the 2024 games in
Paris.
As Third Space unveiled its latest club in Wimbledon at the end of 2023 as part of its growth
development into suburban, residential locations, it also revealed a new state of the art
Reformer Pilates studio at the new site in response to members seeking a low-impact, full-
body workout for all abilities.