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Hengeler Mueller advises Waterland on the sale of Exercite to TA and Warburg Pincus | Hengeler Mueller News

Hengeler Mueller advises Waterland on the sale of Exercite to TA and Warburg Pincus

Waterland Private Equity ("Waterland") and the founders today announced the sale of Exercite to TA Associates ("TA") and Warburg Pincus LLC ("Warburg Pincus"), two leading global private equity firms focused on growth investing. The transaction follows the completion of a majority investment by TA and Warburg Pincus in the Epassi Group ("Epassi"), a market leader for digital employee benefit payments in the Nordics, UK and Italy, with which Exercite is expected to be merged.

Established in 2004, Exercite operates across four brands, including Hansefit, a leading corporate health and wellness network provider in Germany; Bedrijfsfitness Nederland (BFNL) and Workit, two leading corporate health and wellness network providers in the Netherlands, and Fitbase, a provider of online, digital wellbeing courses based in Germany. Together, the brands provide access to a large network of gyms, fitness studios, swimming pools, spa services and physiotherapist centers to more than 2.5 million employees.

Terms of the transactions were not disclosed. The consummation of the Exercite transaction is subject to customary closing conditions.

Hengeler Mueller advised Waterland comprehensively on the transaction.

 

Hengeler Mueller team for Waterland

M&A: Daniel Wiegand, Elisabeth Kreuzer (both partners, both lead), David Negenborn, Julian Pröbstl, Luca Koukounakis (all associates, all Munich),

Tax: Matthias Scheifele (partner), Carina Kämpf (associate, both Munich),

IP/IT: Matthias Rothkopf (counsel), Johannes Jäkle (associate, both Dusseldorf),

Antitrust: Christoph Wilken (partner, Brussel), Sebastian Dworschak (associate, Dusseldorf),

Finance: Henning Hilke (partner, Frankfurt), Mathias Menzel (associate, London),

Employment: Christian Hoefs (partner), Andreas Kaletsch (associate, both Frankfurt).

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