Spanish private equity firm, Alter Capital Desarrollo, has increased its investment in Spanish operator, Wifit Gyms, becoming the majority shareholder, with a 55 per cent stake, having made a minority investment last year.

Founders, José Luis Torrecilla and Íñigo Moreno-Luque both retain minority stakes.

They previously founded IFitness, which they sold to the Altafit group – now part of US megafund, Providence Equity Partners.

Wifit Gyms offers gyms and studio classes and currently operates five Spanish clubs, mostly in Madrid. The investment will accelerate expansion across the Iberian Peninsula. There are plans for five more locations this year.

Footnote

The Spanish market is currently one of the most hotly contested in Europe, with a battle for market leadership and market share between major operators such as Basic-Fit and VivaGym.

See Juan del Rio, CEO of VivaGym, keynote at the HCM Summit 2025 on 23 October in London. Click hereto secure your place.

HCM Summit 2025 speaker lineup

Humphrey Cobbold, chair, PureGym (HCM Summit chair)Russell Barnes, CEO, David Lloyd


Greg Oliver, CEO, Fitness and Lifestyle Group, AsiaNeil Randall, CEO, Urban Gym Group

Martin Seibold, CEO, LifeFit GroupRebecca Passmore, COO, PureGym

Juan del Rio, CEO, VivaGymAnna Bjurstam, senior strategic adviser, Six Senses

Oliver Patrick, co-founder, Future Practice Marc Magliacano, managing partner, L.Catterton

Sophie Lawler, CEO, Total FitnessPeter Bunday, CEO, GLL