Bridges acquires énergie Fitness
Leisure Opportunities
Job search
Job Search
see all jobs
Latest job opportunities
star job
Rugby, UK
Actif Sport and Leisure
£19,312 Fixed Point (Pro-rata)
Carmarthen, Ammanford and Llanelli Leisure Centres, Carmarthenshire
star job
Coach Gyms
£15k basic + commission + Bonus
Leeds, UK
Chesterton Sports Centre
£18,426 - £18,795 per annum, pro rata
Chesterton Community College and Sports Centre, Cambridge UK
Burnley FC in the Community
£25,000 to £30,000 per annum
Burnley, UK

Bridges acquires énergie Fitness

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

Bridges Fund Management has completed a deal to buy franchise gym operator, énergie Fitness.

The private equity firm has acquired a majority stake for an initial consideration, with an earn-out based on énergie continuing to hit its targets for the 2019 and 2020 financial years. The numbers have not been released at this point.

The current énergie management team, led by CEO Neil King, will stay in place following the deal, while founder and chair Jan Spaticchia will reinvest and remain with the business as a shareholder and non-executive director.

In an exclusive interview, Spaticchia told HCM: “This is a very proud day for énergie, its franchisees, staff, team and shareholders. Bridges has plans that will enable énergie to accelerate its growth plans as it leverages its position as the market-leading, low-cost fitness franchisor.

“Most importantly, Bridges is committed to the culture of inclusion that has been at the centre of énergie’s mission since we formed the company more than a decade ago.

“I’m very excited to be investing alongside our new investors as the business enters this exciting new chapter.”

Bridges has significant expertise in the health and fitness sector. It was part of the drive to introduce the low-cost gym concept to the UK in 2007, by backing John Treharne in launching The Gym Group, which is now a FTSE-listed business worth around £360m.

Since then Bridges has also successfully invested in Impact Fitness, a US-based Planet Fitness franchise with 27 locations; and Spain’s Viva Gym, which it has since brought together with Portugal’s Fitness Hut (developed by Nick Coutts) to create the biggest low-cost gym operator in the Iberian region.

énergie's franchise portfolio currently includes more than 100 sites and 150,000 members across the UK & Ireland and it’s expected the investment from Bridges will enable the company to accelerate its growth plan.

énergie has granted 60 franchises in the past year and with Bridges' support, is aiming to roll out another 30-40 new gyms per year.

énergie’s strategy is to target a gap in the market for small-box format owner-operated gyms in catchment areas with smaller populations – this has allowed it to expand into areas that previously had limited access to health and fitness provision.

The company has spent much of the past two years preparing for the sale, undergoing a major rebrand that saw its low-cost sub-brand Fit4Less consolidated under the énergie brand.

It also developed a boutique club-in-club concept, Thé YARD, to respond to the increased demand for boutique experiences.

Bridges CEO, Philip Newborough, who has led all Bridges' health and fitness investments, will join the énergie board, along with investment manager Alison Price.

Mark Heappey, who also chairs Viva Gym Group, is joining the business as chair, while Ivan Schofield will join as a non-executive director.

Bridges is unusual as a private equity house in that it explicitly targets investments that can deliver both financial returns and measurable social and environmental benefits.

The investment in énergie is in line with Bridges’ Healthier Lives impact theme, which focuses on businesses that improve physical and mental health and wellbeing.

The company is also a big player in social outcomes contracts (SOCs), whereby it supports mission-driven organisations to deliver social programmes for Government via outcomes-based contracts.

"Bridges was an obvious choice to support us in the next phase of our growth," said King.

"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.

Newborough added: "We know this sector very well and 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.

"This allows énergie to tap into demographics that would not otherwise have access to health and fitness facilities, driving better health outcomes for these underserved populations.

"énergie has built a great team, and we're looking forward to working with them to prove this model in the UK and then potentially look at expansion opportunities overseas."

Clearwater International advised énergie on the deal. The Clearwater team was led by partner Richard O'Donnell, senior associate Zack Goddard, and associate Paris McNicol-Outch.

In 206, énergie raised money for growth via a crowdfunding initiative via CrowdCube. At the time, the 257 investors raised £546,050, taking 3.23 per cent of the equity, with one investor taking a £100k tranche.

To read an interview with the énergie top team in HCM magazine, click here.

• To read an interview with Philip Newborough, CEO and co-founder of Bridges, click here for the January 2019 issue of HCM

Sign up for FREE ezines & magazines
Bridges Fund Management has completed a deal to buy franchise gym operator, énergie Fitness.

More News

1 - 15 of 43,092
18 Jan 2021
One of England's highest ranking police officers has called on government ministers to clearly define the maximum distance people are allowed to travel to undertake ... More
17 Jan 2021
Virtuagym, a leading provider of fitness technology for gyms and trainers, has announced the launch of PRO+, a new solution that enables operators to generate ... More
15 Jan 2021
Fitness First has launched a new free digital fitness hub, offering users a wide range of virtual classes and training sessions. Called FitX Player, the ... More
15 Jan 2021
The Gym Group has brought in Rio Ferdinand and Wais Shaifta as non-executive directors, signalling a broadening of its remit, new horizons and an intention ... More
14 Jan 2021
As the global vaccine rollout brings reopening closer and heralds the end of lockdowns, jostling is beginning for the resumption of live fitness industry events ... More
14 Jan 2021
Less than half (44.9 per cent) of children and young people in England met the recommended levels for exercise (60 minutes or more a day) ... More
TVS Sport Surfaces
TVS Sport Surfaces
13 Jan 2021
An England-wide survey of over 5,000 adults found that 80 per cent of people aged over 18 have made the decision to change their lifestyle ... More
12 Jan 2021
The government needs to provide the fitness and physical activity sector with a plan which will not only provide immediate, essential measures to secure its ... More
12 Jan 2021
Book4Time, a leading cloud-based business management solution for the global hospitality, spa and wellness industry, has received a significant growth investment from Serent Capital, a ... More
12 Jan 2021
Some Brits drop their exercise habits, eat unhealthily and drink more alcohol during lockdowns, according to research from the University of East Anglia (UEA). A ... More
12 Jan 2021
The Museum of Military Medicine in the UK has received planning approval for a new building in the city of Cardiff. As a result, the ... More
12 Jan 2021
ILMxLAB – a subsidiary of Lucasfilm – has launched a new virtual reality (VR)-based experience for visitor attractions. Based on the hugely popular Star Wars ... More
MyZone Group Ltd
MyZone Group Ltd
12 Jan 2021
Construction work has begun on the huge Shanghai International New Cultural and Creative esports Center. The 500,000sq m venue is estimated to cost around 5.8 ... More
11 Jan 2021
New year, new celeb workout as Mark ‘Bez’ Berry announces the launch of his own Joe Wicks-style youtube workout channel – Get Buzzin’ with Bez. ... More
08 Jan 2021
Frasers Group will open three new regional flagship Flannels-branded retail stores during 2021 – each of which will feature fitness studios. The Mike Ashley-owned retail ... More
1 - 15 of 43,092
HID Global
HID Global