Basic-Fit launches €135m share issue – values company at €1.334bn
Leisure Opportunities
Job search
Job Search
see all jobs
Latest job opportunities
Xercise4Less
Competitive
Newcastle-under-Lyme, UK
Everyone Active
Competitive hourly rate
Sutton-in-Ashfield , United Kingdom
énergie group
Self-employed
Southwark SE1, UK
truGym
Competitive
Nationwide, United Kingdom

Basic-Fit launches €135m share issue – values company at €1.334bn

Job opportunities
training opportunity
Les Mills
location: Nationwide, United Kingdom
more jobs

Basic-Fit has launched a new share issue as it restarts its growth plans for the European fitness market.

The Netherlands-based budget chain is using an accelerated bookbuild offering to issue up to 5.33 million new ordinary shares in the business.

At its current share price of €25 (9 June 2020), this will amount to a raise of around €135m – or 9.8 per cent of market cap, valuing the company at around €1.334bn (marketing capitalisation).

Basic-Fit is looking to use the proceeds from the new shares to strengthen its balance sheet and to provide it with the financial flexibility to allow both organic growth (the opening of new clubs) and acquisitions.

CEO Rene Moos, who currently owns 16 per cent of the company, has committed to subscribing to €5m worth of the new shares, diluting his stake to 15.2 per cent.

According to one analyst, the move is seen as "unquestionably reassuring" for the company which – with 828 clubs and more than 2.3 million members – is already the largest fitness operator in Europe.

"Of significance is the rationale of returning to the strategy of opening new clubs and acquisitions, which comes with risk – but implies confidence in the membership development environment on re-openings as seen so far in France (new joiners outstripping leavers in France)," the analyst said.

"It also offers opportunities to take significant market share where direct or indirect peers have struggled during the COVID-19 lockdown."

In late 2019, Basic-Fit announced it planned to accelerate the pace of organic club openings from a previous target of 125 to around 150 clubs a year for 2020.

With the new target, the company said expects the number of clubs in its portfolio to reach 1,250 in 2022.

The chain added 155 new clubs to its portfolio during 2019.

Earlier this week, Basic-Fit continued its reopening programme across Europe – on 8 June it opened doors to its clubs in Spain and Belgium.

• To read an article Rene Moos speaking at the recent Virtuagym FitNation event, click here.

• Read out interview with Tom Moos, son of Rene in HCM here

Sign up for FREE ezines & magazines
Basic-Fit has launched a new share issue as it restarts its growth plans for the European fitness market.
HAF,FIT,IND,PTS,PHR
2020/THUMB345654_442082_630511.jpg

More News

1 - 15 of 42,803
03 Jul 2020
Technogym has announced the launch of live streaming and on-demand classes. The new content will be delivered via the Technogym Mywellness app. The service will ... More
03 Jul 2020
A number of gym operators are concerned that local lockdowns could come into effect in some areas of the UK before gyms reopen, further delaying ... More
03 Jul 2020
Prime Minister Boris Johnson has announced that gyms may be able to reopen in a ‘couple of weeks’. Johnson made the comments during an interview ... More
03 Jul 2020
Polar has announced the launch of Polar Unite, its new fitness watch. The watch features personalised workouts, wellbeing guidance, connected GPS functionality and a toolbox ... More
02 Jul 2020
UK consumer confidence has improved significantly since the beginning of the lockdown, with a fifth of households now thinking they will be better off in ... More
02 Jul 2020
Tenzing Natural Energy, the drinks brand behind the Tenzing Clean Air Tracker, has recently added new functionality to its free mobile tool, now enabling its ... More
EMD UK
EMD UK
02 Jul 2020
The PGA Tour has recently bought 1,000 Whoop bands for its golfers, after PGA Tour golfer Nick Watney said he was alerted via his Whoop ... More
01 Jul 2020
ukactive has announced that Active Uprising and the National Summit are going digital as part of free events programme for 2020 The events will be ... More
01 Jul 2020
Kathryn Moore, founder of Spa Connectors, has announced the launch of the Hall of Wellness Awards (HOW Awards) to recognise those excelling in their fields ... More
01 Jul 2020
Industry body ukactive has today (1 July) hosted a delegation of government and public health officials on visits to a number of gyms and leisure ... More
01 Jul 2020
Health and fitness company Ingesport – which operates the GO fit chain of gyms in Spain and Portugal – has secured an official certification by ... More
01 Jul 2020
Mountainside Fitness in Arizona has filed a lawsuit against state's governor, Doug Ducey, after he ordered gyms to shut their doors again for at least ... More
STA
STA
30 Jun 2020
Physical activity levels in England have continued to fall from those recorded at the initial phase of lockdown – partly due to schools, shops and ... More
30 Jun 2020
Franchise operator Club Pilates has shown that there is growing confidence in the US fitness and wellness sector, by revealing details of an expansion push ... More
30 Jun 2020
Fitness and athletic apparel firm Lululemon will acquire at-home fitness tech firm Mirror in a deal worth around US$500m (€446m, £407m). Mirror is an interactive ... More
1 - 15 of 42,803
British Military Fitness
British Military Fitness