Sale of Fitness First Australia creates new fitness giant
Quadrant Private Equity has agreed to acquire Fitness First Australia from hedge fund giant Oaktree Capital Management, in a deal signed yesterday (29 September).
The deal creates the largest fitness group in Australia, with 650,000 members and total revenues exceeding A$400m (£235m, US$304.4m, €272.2m).
Quadrant acquired low-cost gym operator Jetts Fitness last month, for a reported A$100m (£58.7m, US$76.1m, €68.1m), having purchased Goodlife Health Clubs from theme park operator Ardent Leisure in August for AU$260m (£152.7m, US$197.9m, €176.9m).
It has also acquired a fourth brand, Hypoxi – a non-invasive body shaping method.
Quadrant created holding company Fitness Lifestyle Group early this year in order to purchase Goodlife and to make other acquisitions in the sector. The portfolio now encompasses 224 company-owned gyms and 188 franchises, with the combined group headed up by Goodlife CEO Greg Oliver.
Oaktree will now become a shareholder in the group, alongside Quadrant and Jetts.
"By combining Fitness First Australia with our existing network of fitness and lifestyle brands across the country, we’ve built a very strong national portfolio of clubs," said Oliver. "In particular, the merger with Fitness First Australia helps us build our presence in New South Wales, where our group has historically been under-represented."
The Australian deal comes as final negotiations are entered for the sale of the UK portfolio, with the conclusion of the deal with DW Sports expected imminently.
Fitness First Quadrant Goodlife Health Clubs AustraliaFocus on fun for Ardent Leisure after operator sells off health club arm
Fitness First Australia to highlight “life changing” benefits of fitness
Fitness First Australia launches high performance concept
BIG unveils Eve Music Hall as Croatia venue nears completion
Bob Rogers hands BRC to long-serving leadership team
Wellness care hospital opens in Vilnius with innovative spa and hospitality concept
Universal and Puy du Fou projects point to rise of Oxford–Cambridge corridor
A proposed Puy du Fou development near Bicester and Universal Destinations and Experiences’ planned resort in Bedford are emerging as part of a wider transformation of the Oxford–Cambridge Growth Corridor into a major centre for UK leisure and tourism investment.
For years, the corridor has been associated primarily with science, technology, housing and university-led economic growth. However, the clustering of large-scale visitor attraction projects along the
All-inclusive eco-wellness development Auko to open near Vietnam’s Son Doong caves
Shedd Aquarium upgrades its visitor experience with new Immersion Theater
Shedd Aquarium has opened the Immersion Theater developed in partnership with SimEx-Iwerks, as part of a wider strategy to enhance the guest experience and create additional revenue opportunities.
The attraction has transformed the aquarium’s Phelps Auditorium into a multi-sensory venue combining panoramic projection, environmental effects and interactive technology.
A new pre-show area allows visitors to engage with augmented reality marine animals before entering the
Mandarin Oriental announces standalone Mansions-branded residences for Abu Dhabi
MCR is planning a luxury hotel for London's BT Tower
Joy as a radical act: Yinka Ilori launches solo exhibition celebrating the rebellious power of spreading happiness
Work gets underway on Madrid's €800 million leisure complex
Work is underway in Madrid on one of Europe’s most significant multi-functional complexes, combining sport, entertainment, culture and education.
The €800 million initiative to regenerate the former Olympic Aquatic Centre in the north-east of the city, next to the Riyadh Air Metropolitano stadium, is being led by Barsento – a joint venture between Live Nation Entertainment, Oak View Group and Atlético de Madrid. The project will
Therme Manchester reveals 90:90 strategy – 90 per cent of the UK population within a 90-minute drive of a Therme
Four Seasons’ Naples Beach Club opens 2,800sq m Sanctuary spa inspired by indigenous Calusa people
Orient Express Corinthian to host Ocean Rebirth wellness retreat in collaboration with Guerlain
Famed London nightclub, Tramp, launches Tramp Health
First look: Miraval opens on the Red Sea in Saudi Arabia
Hainan Science Museum by Ma Yansong, opens in China
A new science museum has opened to the public in Haikou after attracting more than 350,000 visitors during a four-month soft opening period.
Designed by Ma Yansong and his practice MAD Architects, the Hainan Science Museum is located on the edge of Wuyuan River National Wetland Park and has already recorded peak attendance of more than 5,800 visitors in a single day.
Commissioned by
Zannier Île De Bendor launches with design by Hardel Le Bihan Architectes
Sæl Spa readies for launch in London: “a modern British sanctuary”
Immersive art bathhouse Submersive announces debut location in Austin
Construction begins on regenerative wellness destination The Shenandoah Nature Resort
Royal Caribbean reveals record-breaking cruise ship
V&A East opens in London
David Geffen galleries open at LACMA
New venue The Lands by Capella includes a longevity centre to complement sister hotel Capella Sydney
World of Frozen launches at Disneyland Paris
Pical Resort by Valamar reveals first Croatian spa under the ESPA brand
Mandarin Oriental creates end-to-end Egyptian journey with two new hotels and first-ever luxury river cruise
Designers Mendil + Meyer launch new division called Lām Concepts for strategic wellness projects
Wilderness Bisate in Rwanda reveals brand’s second Sanctuary spa
4a Architekten shares details of wellness extension at Salinarium Bad Dürkheim Thermal Spa
Designed to restore neglected land and renew the identity of Iraq’s capital city, Baghdad Sustainable Forests promises a new way of living surrounded by nature. Gensler’s Ian Mulcahay tells us why he thinks the project could become a model for the repair and enhancement of urban centres




















