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PRODUCT NEWS
Frasers Group, owner of Everlast Gyms, buys WIT Fitness out of administration. Plans to retain the name
08 Feb 2024 . BY Liz Terry
WIT Fitness runs a boutique in London / WIT Fitness/Frasers Group
Frasers Group, owner of Everlast Gyms, has acquired the assets of WIT Fitness from administrators RG Insolvency, adding the brand to its portfolio.

A health club operator and sports retail specialist, WIT has strong CrossFit connections.

The company's boutique gym in London – at One New Change, near St Paul's Cathedral – will retain the WIT name, while WIT's retail arm will complement Frasers’ Sports Direct sportswear retailing business.

It's not yet known if Frasers will roll out more WIT locations as a second brand to complement Everlast Gyms, however, there could be a good fit for the company, with WIT Fitness functioning as a premium offering, aligning with Frasers elevation strategy.

WIT Fitness appointed Matt Brewster as CEO in 2022, at which time founder, Dan Williams, moved into a chief brand officer role.

Under Brewster, the company did a crowdfund in Q3 2022 with plans for global expansion, telling investors in September 2022 that the business was 'in great shape' with "400,000 customers and revenues that had grown five times over".

Accounts filed for that year show the company ended up losing nearly £4m in the 12 months to December 2022.

The business had also been backed by VGC, but the company is no longer showing WIT as being part of its portfolio.

Williams was recently involved in brokering a deal which saw London Boutique operator Digme purchase Orangetheory’s four existing sites London sites and set out to drive the rollout of Orangetheory in the UK.

WIT is an acronym for 'Whatever it takes'.

PRODUCT NEWS
Team GB chooses Absolute Performance for Olympic gym contract for third time
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Balanced Body partners with Third Space on its new group reformer pilates offering
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.
Skillcourt UK launches at The Kia Oval, London
Skillcourt UK is thrilled to announce the official launch of its innovative platform at The Kia Oval in London.
Introducing the next generation of Precor cardio consoles: a perfect blend of performance, fitness and entertainment
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.
VibeShift technology delivers enhancing vibration to indoor cycling
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Panatta shares the secrets behind the Three Angles Biceps Machine
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Emperor Ice Baths makes global debut
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Hyperice and Escape Fitness partner to redefine recovery
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Pulse has added a Curved Slat Treadmill to its offering
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Everyone Active

Everyone Active operates leisure centres in partnership with local councils across the UK. Today, Ev [more...]
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Physical is the UK’s go-to, one-stop shop for commercial grade fitness equipment and flooring, with [more...]
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03-05 Mar 2024

IBS New York

Javits Convention Center, New York, United States
20-20 Mar 2024

Global Massage Makes Me Happy & Healthy Day

Virtual, United States
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Jobs    News   Products   Magazine
PRODUCT NEWS
Frasers Group, owner of Everlast Gyms, buys WIT Fitness out of administration. Plans to retain the name
08 Feb 2024 . BY Liz Terry
WIT Fitness runs a boutique in London / WIT Fitness/Frasers Group
Frasers Group, owner of Everlast Gyms, has acquired the assets of WIT Fitness from administrators RG Insolvency, adding the brand to its portfolio.

A health club operator and sports retail specialist, WIT has strong CrossFit connections.

The company's boutique gym in London – at One New Change, near St Paul's Cathedral – will retain the WIT name, while WIT's retail arm will complement Frasers’ Sports Direct sportswear retailing business.

It's not yet known if Frasers will roll out more WIT locations as a second brand to complement Everlast Gyms, however, there could be a good fit for the company, with WIT Fitness functioning as a premium offering, aligning with Frasers elevation strategy.

WIT Fitness appointed Matt Brewster as CEO in 2022, at which time founder, Dan Williams, moved into a chief brand officer role.

Under Brewster, the company did a crowdfund in Q3 2022 with plans for global expansion, telling investors in September 2022 that the business was 'in great shape' with "400,000 customers and revenues that had grown five times over".

Accounts filed for that year show the company ended up losing nearly £4m in the 12 months to December 2022.

The business had also been backed by VGC, but the company is no longer showing WIT as being part of its portfolio.

Williams was recently involved in brokering a deal which saw London Boutique operator Digme purchase Orangetheory’s four existing sites London sites and set out to drive the rollout of Orangetheory in the UK.

WIT is an acronym for 'Whatever it takes'.

PRODUCT NEWS
Team GB chooses Absolute Performance for Olympic gym contract for third time
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.
Balanced Body partners with Third Space on its new group reformer pilates offering
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.
Skillcourt UK launches at The Kia Oval, London
Skillcourt UK is thrilled to announce the official launch of its innovative platform at The Kia Oval in London.
VibeShift technology delivers enhancing vibration to indoor cycling
Power Plate’s new VibeShift technology is now available on the Power Plate Rev bike.
Resolute Multi-Stations offer a configurable design
In response to the growth in strength training, Precor has launched its Resolute Multi- Stations.
Nada Rx flooring reduces stress on joints
Ecore has launched Nada Rx, an ECOsurfaces PVC-free flooring line.
Boxblitx gamifies boxing
Boxblitx, an interactive boxing fitness machine, has been designed to transform gym routines by gamifiying boxing.
Emperor Ice Baths makes global debut
Tapping into the growing interest in cold water immersion, Emperor Ice Baths has created what founder Daniel Watson calls "the most bespoke [portable] ice bath on the market".
Hyperice and Escape Fitness partner to redefine recovery
Fitness and recovery brands Hyperice and Escape Fitness have teamed up to create dedicated recovery stations for spas, gyms and high-performance sport-specific training facilities.
Pulse has added a Curved Slat Treadmill to its offering
Pulse Fitness has announced the launch of two new products: the Curved Slat Treadmill and the Multi-Functional Trainer Rack.
Myndstream’s wellness music service comes to market
Wellness operators now have access to a wider range of music, following the launch of Myndstream’s subscription-based music service.
Klafs acquired by Kohler from Egeria Group
Spa operator and bathroom fixtures company Kohler has entered into a definitive agreement to acquire saunas, steamrooms and hydrothermal area specialist Klafs from investment company Egeria Group.
+ More products   
 
COMPANY PROFILES
Everyone Active

Everyone Active operates leisure centres in partnership with local councils across the UK. Today, Ev [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  

DIRECTORY
+ More directory  
DIARY

 

03-05 Mar 2024

IBS New York

Javits Convention Center, New York, United States
20-20 Mar 2024

Global Massage Makes Me Happy & Healthy Day

Virtual, United States
+ More diary  
 


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Tel: +44 (0)1462 431385

©Cybertrek 2024

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