Thursday
Aug252016

Quadrant Private Equity buys Goodlife Health Clubs

A new holding company called Fitness and Lifestyle Group Pty Ltd (“FLG”) (funded from Quadrant Entities) has today entered a binding agreement to purchase the Goodlife business in Australia..

Chris Hadley, QPE Executive Chaiman and Chairman of FLG, said “we are delighted to join the team at Goodlife, the business fits our investment strategy of bringing together a great brand, strong management team and culture, with industry growth opportunities. We intend to invest significant capital to further grow the business”.

Jonathon Pearce, QPE Partner and a Director of FLG said “The fitness industry that services some 14% of the Australian population, is tipped to follow US trends and grow towards 20% over the next 5 years.  This will provide a signifigant opportunity to expand the Goodlife Health Clubs national footprint and diversify the product offering including the expansion of Hypoxi”.

The acquisition by Quadrant is an exciting opportunity for Goodlife and testament to the successful business strategy led by Goodlife Health Clubs CEO, Greg Oliver, which has seen incredibly strong trends in member growth and retention over the past 18 months.

Greg Oliver stated that “our strategy has been underpinned by a compelling member value proposition executed by our passionate and talented team members” 

“The availability of capital and support from Quadrant will enable our business to further expand its national footprint with a key focus on the NSW market.” Oliver said.

Goodlife Health Clubs strategic direction will continue to remain the same under the new ownership with a focus on exceptional member value. 

For further information on Goodlife Health Clubs, please contact: Jay Baikie, Goodlife Health Clubs Head of Marketing: 0422 275 354

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