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Entries in Energy Fitness (1)

Tuesday
Jul082014

Private equity firm to inject capital in Energy Fitness

Victoria Capital Partners, a private equity firm, has completed the acquisition of a majority stake in Energy Fitness Clubs SpA, a Chilean holding company. EFC is the owner of the Energy Fitness club chain; a Madonna Hard Candy fitness facility in Santiago; and Global Fitness Service, a fitness equipment supplier, also of Santiago.

The deal was designed, in part, to provide new capital to support Energy Fitness’ expansion plans for Chile and other Latin American countries. 

“This transaction represents a major boost for our chain, because we’ll have fresh capital to strengthen our growth,” said Alex Wiesner, founder and CEO of the Energy Fitness club chain and will be CEO and a shareholder in the new company. 

Last year, Energy opened four new sites in Chile, and, this year, it expects to generate $42 million in revenues. It currently owns and operates 11 clubs, has six franchises, and serves more than 45,000 members.

“We intend to open three or four units per year,” says Wiesner. 

Going forward, the company plans to open new Energy Fitness facilities in the Pacific Alliance countries (Peru, Chile, Colombia, and Mexico), and large Hard Candy clubs in major cities, such as Buenos Aires; Lima, Peru; and Bogotá, Colombia.