Fitness tech firm EGYM has acquired French corporate fitness and wellbeing business Gymlilb for what has been described as a "high double-digit million" purchase price.

Gymlib offers a corporate wellness membership service for companies and their employees and has a network of more than 4,000 gyms and health clubs in France and Belgium.

Founded in 2014 by Sébastien Bequart and Mohamed Tazi – and later joined by Grégoire Véron – Gymlib works with more than 600 companies, from SMEs to large corporates, including ​​Deliveroo, PayFit, Danone and GRT Gaz.

The company has raised more than €15m to date, with investors such as Breega Capital, Alyan Group and Fa Dièse.

Commenting on the deal, Philipp Roesch-Schlanderer, EGYM co-founder and CEO, said: "When Sébastien Bequart, Grégoire Véron, Nicolas Stadtelmeyer and I started discussing joining forces a year ago, it was clear that both teams and companies belong together from the first meeting onward.

"Gymlib and EGYM, respectively, have shown incredible perseverance during COVID-19 and demonstrated skyrocketing growth now that gyms are open again.

"As a result, both companies are already much stronger than in 2019 before the pandemic."

"EGYM is now a leading player in corporate fitness in France (via Gymlib), Belgium (via Gymlib Belgium) and Germany (via Qualitrain GmbH).

"Together, we will scale up existing markets to consolidate our leadership based on our technological differentiation and – stay tuned – enter new markets in the future."

EGYM is majority-owned by a group of investors which include Mayfair, HPE Growth, Highland Capital Europe and Kreos.