Lithuania-based fitness chain Impuls LTU has acquired Estonia’s Arctic Sport Clubs, making it the first pan-Baltic fitness centre operator.

The company signed a 100 per cent shares acquisition agreement yesterday (25 November), financed by Nordea Bank and the Baltcap Lithuania SME Fund.

Arctic Sport owns two 2,500sq m (26,910sq ft) fitness centres, in Tallinn and Tartu, which offer gyms, group exercise, PT and 25m (82ft) swimming pools.

“We spent a long time planning and co-ordinating the acquisition of one of Estonia’s strongest health industry players,” said Impuls CEO Vidmantas Siugzdinis.

“Arctic Sport Clubs are totally in line with the premium concept of Impuls group – they are high quality centres with a complete range of fitness services.”

The current management will be retained to help Impuls expand in Estonia.

Arctic Sport Club CEO Rein Reitalu welcomed the acquisition: “We think the new shareholder will provide us with momentum to grow and expand. On our part, we commit to maintaining the highest quality fitness centres possible.”

When the first Lemon Gym opens in Riga in January, Impuls will be the first fitness operator with a presence in all three Baltic states – Lithuania, Latvia and Estonia – with more than 30,000 members. The company’s projected sales for 2015 are €11m (US$11.7m £7.7m).

Siugzdinis says the company now has plans to grow both its premium brand, Impuls, and low-cost Lemon Gym chains throughout the Baltics. However, the two newly-acquired clubs will continue to operate under the Arctic Sport brand.