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Basic Fit (BFIT) investor relations material
Basic Fit M&A Announcement summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Deal rationale and strategic fit
Acquisition creates immediate market leadership in Germany and expands presence to 12 countries, establishing the largest fitness franchise in Europe.
Entry into franchising enables a capital-light, scalable growth model, complementing existing owned club strategies.
Combined entity will have over 2,150 clubs and 5.7 million members, solidifying pan-European leadership.
Strategic fit is reinforced by compatible cultures, scalable concepts, and complementary strengths in technology, marketing, and real estate.
Both companies share an entrepreneurial mindset and value-oriented approach.
Financial terms and conditions
All-cash purchase price of €160 million at closing, with a potential €15 million earn-out over three years, fully financed by €180 million in committed facilities from ABN AMRO, ING Bank, and Rabobank, maturing June 2028.
Clever Fit generated €50 million revenue and €14.5 million EBITDA less rent in 2024; acquisition multiple is 11x EBITDA.
Company expects to maintain ample liquidity and meet bondholder redemptions in 2026.
Synergies and expected cost savings
Significant synergy potential in technology, marketing, operational efficiency, and joint purchasing, with further details to be shared after franchisee consultations.
Overhead, including marketing, expected to decrease to 11.5%-12% of revenue.
Franchisees will benefit from enhanced real estate, marketing, equipment, and technology capabilities.
Opportunity to increase average club membership and profitability by leveraging marketing and IT systems.
Expansion potential on top of current growth model, leveraging combined scale.
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