Clifford Chance has advised the founders of Sweat on the deal.
Sweat, a digital fitness app for women, has been sold to iFIT Health & Fitness Inc, a global leader in connected fitness software, content and equipment. Sweat, which was co-founded by trainer Kayla Itsines and CEO Tobi Pearce in 2015, will remain a standalone brand as part of iFIT. Kayla and Tobi will continue to lead Sweat business in their existing roles, with the company remaining headquartered in Adelaide, Australia.
The Sweat platform is powered by a team of personal trainers and offers over 5,000 unique workouts across 26 exercise programmes ranging from high-intensity interval training and strength to yoga, barre and pilates.
Sydney partner Mark Currell (Picture) led the deal, supported by senior associate Alice Bradshaw and graduate lawyer Evan Thomson. A cross-border team of experts in New York, London and Singapore also provided specialist advice on technology, data privacy, and mergers and acquisitions including partners Kevin Lehpamer and Sarah Jones, senior associates Sally Murphy and Jamie Andrew, associate Mark Sheehy, and external consultant Luke Grubb.
Involved fees earner: Jamie Andrew – Clifford Chance; Alice Bradshaw – Clifford Chance; Mark Currell – Clifford Chance; Sarah Jones – Clifford Chance; Kevin Lehpamer – Clifford Chance; Sally Murphy – Clifford Chance; Mark Sheehy – Clifford Chance;
Law Firms: Clifford Chance;