GTAK Capital’s €7 Million Acquisition of a Stake in Trainingym

Toda & Nel-lo advised Ingesport on the deal.

GTAK Capital entered into the capital of the startup Trainingym (the brand of Intelinova Software). GTAK Capital reached an agreement for the purchase of the shares that the Ingesport group, through its investment vehicle specialising in innovative projects Global Innovation for Sports, Exercise & Active Living, held in the company (70 per cent) and a subsequent capital increase, under a valuation of €10 million, with the aim of multiplying its value by 10 and expanding this technology platform to the US market, among other growth objectives.

Ingesport is a leading operator in Iberia in the construction and management of sports centres under concession. It currently operates 20 facilities under the GO fit brand, serving more than 250,000 customers in Spain and Portugal, and has an ambitious expansion plan in other European markets. Its specific investment vehicle (Global Innovation for Sports, Exercise & Active Living) drives the growth of innovative and disruptive projects that combine technology and sport.

Trainingym, with more than 14 million users worldwide (in Spain alone, 1 in 5 gyms work with it), has led more than 1200 gyms in 23 countries around the world to the digitisation of fitness, a guarantee of survival in a sector hit during the pandemic.

Toda & Nel-lo advised Ingesport with a team led by Commercial and International partner Jacobo Ollero (Picture), along with Corporate & Commercial associates Irene Soto and Pablo Toda.

Involved fees earner: Jacobo Ollero de la Serna – Toda & Nel-lo Abogados; Irene Soto Astigarraga – Toda & Nel-lo Abogados; Pablo Toda Plaza – Toda & Nel-lo Abogados;

Law Firms: Toda & Nel-lo Abogados;

Clients: Ingesport;

Author: Federica Tiefenthaler