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Mosaic Group acquires first freehold site

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Health club operator Mosaic Spa and Health Clubs has made its first move into ownership after acquiring Shrewsbury's Welti Health and Fitness facility out of administration.

The group operates a number of clubs around the UK, most of which are under the Fitness Express and Imagine Spa brands, and has confirmed the purchase of its first freehold site.

Welti Health and Fitness has more than 2,500 members and comprises a large gym and two separate exercise studios, as well as a kinesis zone, a boxing ring and a free weights area.

Facilities also include a swimming pool with a sauna and steamroom; six indoor and eight outdoor tennis courts; and a nursery. The venue is to be renamed The Shrewsbury Club.

Downing Corporate Finance, a venture capital trust that acquired a stake in the business last August, funded the acquisition. Further investment is also planned to improve facilities.

Mosaic managing director Dave Courteen said: "We recognise that the Welti Club has come a long way since it opened, but we very much hope to take the business to the next level.

"The heart of our strategy will be to develop the business as a local club to be used and enjoyed by local people primarily for the residents of Shrewsbury and the surrounding areas of Shropshire."

Downing investment director Paul Beaumont added: "Our acquisition of the Welti Club demonstrates the belief that we have in the Mosaic business and management team."

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Health club operator Mosaic Spa and Health Clubs has made its first move into ownership after acquiring Shrewsbury's Welti Health and Fitness facility out of administration.
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