{"id":6487,"date":"2017-02-28T15:42:17","date_gmt":"2017-02-28T15:42:17","guid":{"rendered":"https:\/\/www.bdapartners.com\/?post_type=transaction&#038;p=6487"},"modified":"2023-03-14T14:36:12","modified_gmt":"2023-03-14T06:36:12","slug":"bda-advises-navis-on-celebrity-fitness-merger-with-fitness-first-asia-creating-one-of-the-largest-fitness-club-networks-in-asia","status":"publish","type":"transaction","link":"https:\/\/www.bdapartners.com\/ko\/transaction\/bda-advises-navis-on-celebrity-fitness-merger-with-fitness-first-asia-creating-one-of-the-largest-fitness-club-networks-in-asia\/","title":{"rendered":"BDA advises Navis on Celebrity Fitness merger with Fitness First Asia, creating one of the largest fitness club networks in Asia"},"content":{"rendered":"<p>BDA Partners is pleased to announce that its client, Navis Capital Partners, a leading private equity firm in Asia, has agreed to merge its portfolio company, Celebrity Fitness, the leading fitness club operator in Indonesia and Malaysia, with Fitness First Asia, the largest fitness club operator in SE Asia. Fitness First Asia is a portfolio company of Oaktree Capital, a leading global alternative asset manager. Following the merger, Navis and Oaktree will each own an equal share in the combined entity, Evolution Wellness.<\/p>\n<p>Evolution Wellness will comprise 152 wholly-owned fitness clubs across Asia. Celebrity Fitness and Fitness First Asia recorded combined revenues of US$295m in 2016.<\/p>\n<p>The merger brings together two of the most experienced management teams in the Asian health and fitness industry, with a combined staff strength of 7,000, serving 400,000 members. Complementary service offerings, geographic footprint and robust business models position Evolution Wellness for success, as well as operational and cost optimisation post-integration. Backed by strong financial sponsors, Navis and Oaktree, Evolution Fitness will capture growth potential and further advance ambitions in the fast-growing Asian health and fitness industry.<\/p>\n<p>Martin Darby, CEO, Celebrity Fitness, said &#8220;Celebrity Fitness and Fitness First complement each other in their distinctive brand identities and market positioning. This merger will enable both brands to expand faster and move into new Asian countries. I look forward to assisting Evolution Wellness with this strategic expansion.&#8221;<\/p>\n<p>Nicholas Bloy, Managing Partner, Navis, remarked &#8220;Celebrity Fitness has been a great success story since our acquisition in 2007 of the brand created by John Franklin. At the same time we have watched with admiration, the growth and success of Fitness First in the region. We&#8217;re excited to be taking the lead role in this new entity and will bring our sector knowledge and years of regional expertise to help Evolution Wellness develop and grow in new and dynamic ways to reach its fullest potential.&#8221;<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-6487","transaction","type-transaction","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BDA advises Navis on Celebrity Fitness merger with Fitness First Asia, creating one of the largest fitness club networks in Asia - BDA Partners<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bdapartners.com\/ko\/transaction\/bda-advises-navis-on-celebrity-fitness-merger-with-fitness-first-asia-creating-one-of-the-largest-fitness-club-networks-in-asia\/\" \/>\n<meta property=\"og:locale\" content=\"ko_KR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BDA advises Navis on Celebrity Fitness merger with Fitness First Asia, creating one of the largest fitness club networks in Asia - BDA Partners\" \/>\n<meta property=\"og:description\" content=\"BDA Partners is pleased to announce that its client, Navis Capital Partners, a leading private equity firm in Asia, has agreed to merge its portfolio company, Celebrity Fitness, the leading fitness club operator in Indonesia and Malaysia, with Fitness First Asia, the largest fitness club operator in SE Asia. 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