Naxicap Partners, an affiliate of Natixis Investment Managers, has acquired a majority stake in Let’s Go Fitness following the exit of Afinum.
Working in partnership with the company’s existing management, led by Jean-Pierre Sacco, François Victor and Steve Porchet, Naxicap Partners will launch a new phase of growth for the company.
Let’s Go Fitness is the largest operator of fitness centres in French-speaking Switzerland, focussing on the upper middle-class pricing segment. It has been controlled by Afinum since 2014. The group currently operates 52 fitness centres, mostly in the Lake Geneva region. Since its foundation in 2002, the group has consistently grown and today has more than 50,000 members, and in 2017, the group recorded a revenue of CHF44m.
Naxicap Partners will support the continuation of the sustainable growth strategy together with founder Jean-Pierre Sacco and co-shareholding managers through organic growth as well as new club openings and add-on acquisitions.
The acquisition of Let’s Go Fitness marks Naxicap Partners’ first majority investment in Switzerland.
Crédit Suisse has financed the transaction.
