PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

Sherpa Capital supports BPXport in acquisition of sports and leisure centres

Sherpa Capital, a private capital fund manager focused on investing in mid-sized Iberian companies with more than EUR500 million in assets under management, is to support BPXport, an operator of concession sports centres and sports services contracts with a national presence across Spain.

Sherpa Capital’s investment has enabled the incorporation of two sports and leisure centres to its platform: CDO Almendrera and CDO Covaresa. Based in Valladolid, CDO Covaresa is one of the largest sport facilities in Europe.
 
This transaction is part of Sherpa Capital’s strategy of investing in growth companies, focusing mainly on opportunities in sectorial consolidation processes and in companies that are in the process of expansion.
 
Founded in 2006 by a group of professionals with large experience in the sports management field, BPXport currently operates 20 concessionary fitness centres and manages 25 contracts for sports management services in Guipúzcoa, Vizcaya, Navarra, Cantabria, Madrid, Valladolid, Valencia and Granada. With the incorporation of CDO Covaresa and CDO Almendrera, BPXport now manages around 150,000 m2 of sports facilities, a workforce of around 800 people and generates revenues of approximately 30 million euros annually.
 
BPXport is in the midst of implementing its growth plan after assuming recently the management of four important facilities over recent months: “BPXport Los Prunos”, located in Madrid’s Hortaleza district; “BPXport Riberas” (San Sebastián), which opened to the public last March after an integral reform; “BPXport Zuhaizti” (San Sebastián), a sports centre whose opening will be imminent due to the advanced state of its remodeling works; and “BPXport Sopelana”, a center that is expected to be remodeled and opened in the coming months.
 
As part of the agreement with Sherpa Capital, BPXport’s founder and CEO, Beñat Barrio, will continue leading the growth project together with the current management team. Sherpa Capital will support the management team in professionalisation of the organisation and will support the company in achieving its growth plan to take the BPXport brand to new regions in Spain.
 
Laura Areizaga, Director at Sherpa Capital, says: “We are delighted to support BPXport in acquiring a leading fitness center such as CDO. The fitness industry is booming thanks to increasingly healthy lifestyles. We expect the current process of industry consolidation to intensify in the coming years, leading to the creation of new operators that will need to be larger to compete. BPXport is in excellent health after experiencing strong growth under the leadership of a first-class management team and has all the resources to consolidate its position as one of the leading sports centre operators in the country.”
 
Beñat Barrio, founder and CEO of BPXport, adds: “Sherpa Capital is the ideal partner to join us in this new stage of the company’s development in which our aim is to consolidate our presence in Spain, looking for different geographic areas to develop our activity as long as the business plan favors a progressive and risk-free growth. The gym market in Spain remains highly fragmented and we are confident that having the support of an investor with resources, knowledge and a strong network of contacts will help us identify and implement organic and inorganic growth strategies.”
 
Sherpa Capital was advised by Gómez-Acebo and Pombo on legal matters and KPMG on the financial aspects of the transaction. GBS Finance acted as financial advisor to the seller.

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured