Master franchisees join consortium to buy Anytime Fitness Asia
Anytime Fitness Asia has been acquired by the Inspire Brands Asia consortium. The group comprises lead investor Exacta Capital Partners, co-investor Aura Group and Anytime’s master franchisees in Malaysia, Philippines and Singapore.
The purchase includes the master license for Singapore, Malaysia, Philippines, Indonesia, Thailand, Taiwan, Vietnam, Hong Kong and Macau.
Anytime Fitness is the only regional master franchisee of the Anytime Fitness brand and is preparing to open its first gym in Vietnam.
The existing gyms and gym management businesses merged into the group which accounts for at least 30 per cent of the 24/7 gym chain’s operations in Asia.
In the last four years, Anytime Fitness Asia recorded compound annual growth rates of 49 per cent in franchise sales and 55 per cent in gym openings.
At least 250 gyms are already open with another 100 or so sold.
Anytime Fitness Asia
Luke Guanlao, Inspire Brands Asia Group CEO and Anytime Fitness Asia COO said “I have been with Anytime Fitness for over 10 years, and we are positioned strongly to take advantage of opportunities that will open up as our gyms reopen and we navigate a new normal after this pandemic.”
Johannes Raadsma, chief growth officer, Anytime Fitness Asia, is predicting gym attendance will be robust, post coronavirus restrictions.
“Hong Kong’s reopening shows that usage is as strong as it was pre-COVID-19.” he said. “With our track record in gym management, we can support operators and investors in a profitable business that also welcomes people into a new and healthier lifestyle.”
Charles Wong, executive director of investor firm Aura Group, said “Completing the deal in this black swan backdrop involved assessing the brand’s capacity to withstand enforced closures, and a long-term outlook on the industry.
“Anytime Fitness Asia is proven and capitalizes on its smaller footprint in accessible community locations and lower cost of entry and maintenance, which ensures that gyms will reopen safely and grow post-COVID-19. The brand, the model, and the experience of our partners are why we at Aura are privileged to be part of this landmark deal.”
Anytime Fitness Asia will continue to be headed by CEO Rey Bolivar.
“Our lives have changed, and Anytime Fitness Asia is prepared to change along with the times to support our members, staff, and franchisees beyond the crisis. We look forward to welcoming members as we reopen, and welcoming opportunities as they come.” he said.