Herter & Co. has advised NORD Holding on the financing for the acquisition of a majority stake in the Ai Fitness Group. The transaction has been supported by an acquisition financing provided by a renowned debt fund with a total financing volume of up to more than €100m. In addition to the term debt funded at closing, the financing package includes significant facilities intended for future add-ons, thus enabling the group to roll-out its buy-and-build strategy going forward. The acquisition complements NORD Holding’s existing investment in Jumpers Group and thus, expanding its commitment in German fitness chains in the continuously growing discount segment. Together, both companies constitute the new platform “BestFit Group”.
Since its foundation in 2003, the Ai Fitness Group has established itself as a pioneer in the discount fitness segment. With its consequent „all inclusive“ offering, the group has more than 120,000 members in its 28 clubs.
Herter & Co. acted as Sole Debt Adviser to NORD Holding.
About NORD Holding
With a 50-year history and assets under management of € 2.5 billion NORD Holding is one of the leading private equity asset management companies in Germany. The focus is on the direct investment and fund of funds investment divisions. The focus of direct business is on structuring and financing corporate succession models, the takeover of group divisions/subsidiaries and expansion financing for medium-sized companies. In contrast to most other financial investors who only manage funds for a limited period NORD Holding acts as a so-called ‘evergreen fund” with no time limit and invests from its own balance sheet At present the company is invested in more than 15 companies in Germany and other German-speaking countries. The Fund Investments division targets the small-cap segment of the European private equity market and focuses on primary, secondary and co-investments. NORD Holding concentrates strongly on buyout managers newly established on the market, operational investment strategies and also regularly acts as an anchor investor.
For further information please visit: https://www.nordholding.de/