Press release - 2 May 2024
Investment bank Largillière Finance helped LC Fitness Group arrange a €14 million loan from a pool of 4 banks to finance the acquisition of 5 sports clubs operating under the Fitness Park brand.
Founded in 2014 by Stéphane Miras, LC Fitness, headquartered in Chessy (77), specializes in the development and operation of gyms under the Fitness Park franchise in France and Spain. The Group has developed along two main lines: the opening of new gyms and the acquisition of new clubs in areas with strong development potential.
To date, LC Fitness operates 23 Fitness Park clubs, including 14 in France and 10 in Spain, with a total of 69,000 subscribers. It also runs the Fitness Park master franchise in Spain, with 24 franchisees.
In a market experiencing sustained growth in the wake of the health crisis, LC Fitness intends to capitalize on its expertise to accelerate its development and territorial coverage.
The 5 health clubs already operating under the Fitness Park franchise and currently owned by the Ladjal Group are geographically complementary, as they are located in the Paris region, with nearly 30,000 active customers by the end of 2024. The deal is financed by €14 million in debt, provided by Société Générale, Banque Populaire Rives de Paris, CIC and BPI France.
Stéphane Miras of LC Fitness is delighted: “The acquisition of these 5 new sports clubs represents a structuring external growth for the LC Fitness Group. We would like to warmly thank Largillière Finance for its assistance with the financing and its involvement throughout the process.”
Gabriel Hainault, Director at Largillière Finance comments: “Our mission was to find the right partners to set up a non-dilutive financing. This major step for the LC Fitness Group enables it to become the first French Fitness Park franchisee and consolidate its position in the Paris region.”
Stakeholders in the operation:
| Target: WKM Invest et Free Management | |
| Seller Legal M&A Advisor: Cadence Avocats | Marie Plassart |
| Lenders: | |
|
Gaelle Seznec, Charles Nguetta, Pierre Besse |
|
Olivier Grisard, Mathilde Vallée |
|
Philippe Gibon, Sandrine Chaussecourte |
|
Lisa Ollivier, Melissa Esnard |
| Loan Financing Advisor: Largillière Finance | Nicolas Ibanez, Gabriel Hainault, Maxime Fournely |
| Buyer Legal M&A Advisor: Cardian Avocats | Catherine Boursier |
| Loan Financing Legal Advisor: Simon & Associés | Christelle Salmon-Lataste |
| Financing Lenders Legal Advisor: Mermoz | Benjamin Guilleminot |
| Acquisition Financial audit: Advance Capital |
Thomas Bettan, Dylan Carry |
With offices in Paris, Lyon, Nantes, Brussels and Geneva, Largillière Finance is an independent investment bank dedicated to assisting managers and shareholders of small and medium-sized companies with their capital transactions: company sales and acquisitions, financing (capital and/or debt), financial engineering (valuation, etc.) and financial strategy.
