Viva Gym’s acquisition of Fitness Hut to create Iberian low-cost market leader

Eversheds Sutherland has advised Viva Gym (Viva), a leading Spanish low-cost gym business, on its acquisition of Fitness Hut, the leading Portuguese low-cost gym business.

The deal was led by specialist sustainable and impact investor Bridges Fund Management (Bridges). It will create the biggest low-cost fitness group in the Iberian region, with 200,000 members across 48 sites, combined revenues of over €50m, and ambitious growth plans for the next few years.

The Eversheds Sutherland cross-border team was led by London Corporate Partner Louise Finnie (picture) with support from Associates Alex McCarney and Kathryn Dodds. Partner Patrick Davis and Associate Catherine Jones led on the financing aspects of the transaction, with Partner Ben Jones and Principal Associate Colin Askew providing tax structuring advice.

The UK team was supported by Partner Carlos Pemán and David Williams (of Counsel) who advised on the Spanish aspects of the deal, with Partner Pedro Guimaraes, and Lawyers João Osório Castro and Bruno Arez Martins from relationship firm FCB Sociedade de Advogados providing advice in Portugal.

Clinton Calleja from relationship firm Guido DeMarco & Associates advised on the Maltese aspects of the transaction.

Involved fees earner: Clinton Calleja – Guido de Marco & Associates; Pedro Guimaraes – FCB Sociedade de Advogados; João Osório Castro – FCB Sociedade de Advogados; Bruno Arez Martins – FCB Sociedade de Advogados; Louise Finnie – Eversheds Sutherland; Alex McCarney – Eversheds Sutherland; Kathryn Dodds – Eversheds Sutherland; Carlos Pemán Cubillo – Eversheds Sutherland; David Williams – Eversheds Sutherland; Patrick Davis – Eversheds Sutherland; Catherine Jones – Eversheds Sutherland; Ben Jones – Eversheds Sutherland; Colin Askew – Eversheds Sutherland;

Law Firms: Guido de Marco & Associates; FCB Sociedade de Advogados; Eversheds Sutherland;

Clients: Viva Gym;

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