Bridges Fund Management has acquired a majority stake in énergie Fitness, a low-cost gym franchise business in the UK.
énergie operates more than 100 gyms in the UK and Ireland, focusing on providing small-box format gyms in catchment areas with smaller populations which did not previously have access to a low-cost gym. It operates on a franchise model and aims to roll out 30-40 new gyms a year.
The investment from Bridges will be used to help énergie accelerate its growth plan. Founder Jan Spaticchia will remain with the business as a non-executive director.
Neil King, CEO of énergie Fitness, said: “Bridges was an obvious choice to support us in the next phase of our growth. The team has substantial experience of successful roll-outs in the sector, which will be very valuable to us as we think about how to improve our member offering and find more great sites.”
Philip Newborough, co-CEO of Bridges, added: “We know this sector very well and we believe énergie has identified a clear gap in the market: smaller-format, high-service gyms that can operate in areas where the large box gyms would not be able to. ”