FSN Capital II has entered into an agreement to acquire a leading Nordic health and fitness chain, currently operating under the Nautilus name.
Established in 1992, the Nautilus group is a leading Nordic health and fitness chain operating approximately 120 clubs. These clubs are primarily located in the Nordic region, but the group also has a presence in Germany, Iceland and the UK. In 2006, the group had total revenues of approximately SEK340 m.
“The Nautilus group has established itself as a leading health and fitness chain in the Nordic region by delivering a very strong concept at a competitive price level to its customers. We look forward to supporting the future growth of the Nautilus group together with its founders and employees, say Peter Möller, Partner at FSN Capital”
“We are excited about welcoming FSN Capital as a partner in the continued development of the Nautilus group. We see significant growth opportunities for our concept, primarily in the Nordic Region but also in selected other European countries. FSN Capital, with its strong experience in developing businesses, will represent a very valuable resource to the group, says Hans Cederholm, Mats Thulin and Sten Lundgren, founders of
the Nautilus group”
The investment in the Nautilus group is FSN Capital II’s sixth investment. To date, FSN Capital II has invested in VIA Travel (Norway), Alignment Systems (Sweden), Aura Light (Sweden), Norlandia Omsorg (Norway) and Teres Medical Group (Norway).
The acquisition is pending approval from the Competition authorities in Norway (Konkurransetilsynet) before final closing can take place.
FSN Capital has been advised by: KPMG (financial, tax, and commercial due diligence) and Hamilton Advokatbyrå KB (legal). Debt is provided by DnBNOR.