LifeFit Group has agreed its largest transaction to date, with the acquisition of FIT/One Group, which will give it a platform to build on in Austria.

The deal expands LifeFit Group’s presence beyond its German borders, creating an estate of 210 clubs and bringing the company significantly closer to its goal of having more than 250 clubs operational by 2028.

Fit/One has 33 clubs in Germany and 12 in Austria, with around 220,000 members and 500 employees. Currently, it operates four studios in Austria under the FIT/One brand and eight additional studios under the MoreFit brand, which it acquired in September 2024. The sites will be rebranded as Fitness First Red clubs.

Waterland owns both of the companies. It invested in LifeFit Group last September and entered into a partnership with the Fit/One founders, the Mühleck family, in 2021.

Jörg Dreisow, member of the supervisory board of Waterland, says bringing two companies in its portfolio together will optimise operations: “LifeFit Group has impressively demonstrated its ability to manage and successfully integrate transactions in recent years. With the clubs of FIT/One Group, it will become one of the strongest fitness providers in Germany.”

Martin Seibold, CEO of LifeFit Group, says “This merger is the largest transaction to date and the next logical step towards internationalisation and the exploration of new regional markets, particularly in Austria. We are excited to become active in our neighbouring country.”

While the deal has been contractually sealed, regulatory approvals and financing are still pending. Final completion is expected to happen in early April.

LifeFit Group has been on a buy and build strategy since the Waterland investment. Last week it bought a premium Munich health club, as well as SportsUp in January and Body Culture Group in October last year.

Last 12 months revenue for LifeFit group were €245 million. The expected like-for-like adjusted full year 2024 EBITDA, including the intended acquisition of FIT/One Group, amounts to approximately €70 million.