Capital Dynamics has closed an investment in Curves International, alongside lead investor North Castle Partners.
Curves is the largest health club franchisor in the world with over 1.5 million active members and 7,300 clubs located in 90 countries. Focused predominantly on fitness and women’s health, Curves features a business model built on a franchise system with geographic and product diversification.
The investment was a globally co-ordinated effort. Capital Dynamics’ London, New York and Silicon Valley offices, together with its Tokyo office, worked in close collaboration with US-based North Castle Partners to complete the transaction.
“We have a strong relationship with North Castle and are delighted to have backed the firm in the Curves transaction,” says Andrew Beaton, managing director and co-head of Capital Dynamics’ co-investment business. “North Castle is highly experienced in the healthy living segment and very successful in wellness; the team has already made over 20 investments in the wellness area. Curves, boasting the key growth drivers targeted by fast moving consumer goods companies, is the ideal next investment and we are pleased to join North Castle as a partner in this opportunity.”
“The Curves investment is a great example of our co-investment team’s ability to identify and successfully invest in companies that hold global positions of leadership, as well as the potential for further growth,” says Stefan Ammann, chief executive of Capital Dynamics. “We are looking forward to working together with North Castle to advance the already strong growth Curves has achieved, both in the US and internationally.”
