Waterland invests in Fit/One

Apparently, Waterland Private Equity is about to close an investment in the fitness chain Fit/One. This is revealed in the notification of the transaction to the German Federal Cartel Office (Bundeskartellamt). According to the filing, Waterland is to gain co-control of the company. Until now, the fitness chain with currently 28 facilities in Germany, two facilities in Austria and one facility in Poland was a brand of Harlekin Spiel- und Unterhaltungsautomaten Betriebsgesellschaft mbH.

Waterland is thus returning to the fitness operator market. The private equity investor already held a 50% stake in the Dutch HealthCity/Basic Fit group from 2005 to 2013. During this time, the chain grew by 25 transactions, such as Future Sports and Karstadt Fitness in Germany, and 50 new clubs were opened. This made the group the second largest fitness facility operator in Europe after McFIT. In 2013, the founders bought back the shares from Waterland.

In 2018, Waterland had acquired a stake in the fitness aggregator Hansefit. This is the second time that an aggregator and a fitness facility operator are under the same ownership, after Fitness First had previously acquired the aggregator My Fitness Card. Directed by Waterland, Hansefit merged with its Dutch counterpart Bedrijfsfitness Nederland (BFNL) at the end of 2019.

Harlekin Spiel- und Unterhaltungsautomatenbetriebs GmbH's core business are its 100 Magic Casinos branded outlets nationwide. The first Fit/One studio was opened as a "Mega-Gym" in Stuttgart in December 2014. In 2017, the company took over the four facilities of the fitness chain 4everFITNESS and integrated them into Fit/One's club portfolio.

Picture: Fit/One

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