The British discount chain The Gym Group currently has 38 clubs with more than 200,000 members and was recognized by the Sunday Times as the fastest growing company in the UK in 2012.

The private equity firm Phoenix intends to further support the rapid growth of the fitness operator in the future with the investment of 60 million Euros. In return, the company gets a majority share in The Gym Group, while the previous owner Bridges Ventures retains a share of 25 %. Phoenix invests mainly in mid-sized companies and is also involved in the restaurant chain Busaba Eatthai and the fashion retailer Radles.

"We are delighted to be able to expand The Gym and welcome our new partner, in addition to our current partners Bridges" said John Treharne , CEO of The Gym Group, commenting the entry of Phoenix.

Sources: Phoenix, Hogan, Legal Week
Source: The Gym Group