Hengeler Mueller advises DOUGLAS Group in connection with partial refinancing by German private placement in the amount of €200m
1 April 2025
LifeFit Group MidCo GmbH, an entity indirectly held by funds advised by Waterland Private Equity Investments (“Waterland”), has entered into the acquisition financing for the takeover of the FIT/One Group and thus successfully completed the acquisition.
LifeFit Group is a leading German fitness and health platform, including the brands FitnessFirst, Elbgym, Barry's and Club Pilates. Hengeler Mueller had already advised Waterland comprehensively on the acquisition of LifeFit Group and the acquisition financing through a combined bank-bond financing.
The acquisition of the FIT/One Group represents the largest transaction in the history of LifeFit Group, which now grows to 210 facilities with over 650,000 members. The studios of the FIT/One Group will be integrated into the Fitness First brand. Simultaneously, the transaction lays the foundation for an international footprint of the group. The transaction is financed in part by the issuance of subsequent bonds under the existing bond framework of LifeFit Group MidCo GmbH. The tap issue with Pareto Securities as Sole Bookrunner encountered strong demand and was significantly oversubscribed, resulting in a higher than expected placement of EUR 90m.
Hengeler Mueller advised LifeFit Group MidCo GmbH in connection with the acquisition financing.
Hengeler Mueller-team for LifeFit Group
Financing: Henning Hilke (partner), Pascal Brandt (senior associate), Simon Tänzer, Karsten Staupe (both associates, all Frankfurt).
