This website requires Javascript for some parts to function propertly. Your experience may vary.

Hengeler Mueller advises Waterland on the acquisition of LifeFit Group | Hengeler Mueller News

Hengeler Mueller advises Waterland on the acquisition of LifeFit Group

Blitz 24-73 GmbH (under change of name to Light AcquiCo GmbH), an entity indirectly held by investment funds advised by Waterland Private Equity Investments ("Waterland") has signed an agreement to acquire the LifeFit Group from the current majority owner Oaktree Capital Management.

LifeFit Group is a leading fitness and health platform in Germany, uniting several fitness brands such as FitnessFirst, Elbgym, Barry's and Club Pilates under one roof. Since 2019 LifeFit Group‘s club portfolio has grown from approximately 50 clubs to more than 140 clubs in 2024, making it one of the leading health and fitness platforms in Germany.

The transaction is subject to usual Closing Conditions and expected to be completed during the second half of 2024.

The financing for the acquisition shall be provided by issuing senior secured bonds in private placements with institutional investors, where the net proceeds would also be used to redeem LifeFit Group’s outstanding senior secured callable floating rate bonds in full.

Hengeler Mueller advises Waterland comprehensively on the transaction.

 

Hengeler Mueller team for Waterland

M&A: Daniel Wiegand (partner, lead, Munich), Johannes Fütterer (Dusseldorf), Maximilian Mayer, Julian Pröbstl (both Munich, all associates),

Finance/Capital Markets (DCM): Henning Hilke (partner), Pascal Brandt, Tobias Chowdhury, Antonius Rodewig, Karsten Staupe (all Frankfurt), Mathias Menzel (London, all associates),

Antitrust: Christoph Wilken (partner), Christoph M. Sielmann (associate, both Brussels),

Tax: Gunther Wagner (partner), Tim Würstlin (associate, both Munich),

Public Law: Dirk Uwer (partner), Susanne Koch (counsel), Thomas Kosmider, Tanja Peschen (both associates, all Dusseldorf),

Employment: Hendrik Bockenheimer (partner, Frankfurt), Kira Fritsche (associate, Dusseldorf),

IP: Andrea Schlaffge (counsel), Johannes Jäkle, David Rüther (both associates, all Dusseldorf).

Latest Articles

Brussels à Jour: The Circus is in Town

BaFin approves for the first time unpaid equity commitment as a Tier 2 ancillary own-fund item, creating a cash-efficient alternative to group-internal own-fund financing

IBA published updated Guidelines on Conflicts of Interest in International Arbitration

Recent Mergers & Acquisitions Work