The North American fund Providence Equity—owner of the Spanish gym chain VivaGym, which in turn owns the Portuguese chain Fitness Hut—plans to acquire the French chain Fitness Park for €600 million, with backing from JPMorgan.

US private equity firm Providence Equity, owner of the Spanish gym chain VivaGym, is among the frontrunners to acquire the French chain Fitness Park, which is valued at approximately €600 million. The sale process, coordinated by JPMorgan, is at an advanced stage, with only a small number of bidders remaining—including a French family office. The deal could be finalized by the end of the year.

If Providence emerges as the winner, the two chains could potentially be placed under the same holding company, although the intention is to keep the brands separate. Combined, VivaGym and Fitness Park generate around €180 million in EBITDA, a figure that could exceed €200 million through potential synergies.

About Fitness Park

Fitness Park is owned by Philippe Herbette, with Future French Champions (an investment vehicle backed by the Qatar Investment Authority and Bpifrance) as its principal minority shareholder. It operates in the low-cost gym segment, offering modern, high-quality equipment. The company has over 400 centers (with around 90 in Spain), generates annual revenue exceeding €400 million (including franchisees), and posts EBITDA in the region of €60 million.

In Spain, the brand operates through Upgyms Iberia SL, which holds the master franchise rights. This entity is not included in the scope of the potential transaction.

Providence’s consolidation strategy

Providence has pursued an aggressive acquisition strategy in the sector since 2024. It acquired VivaGym when the chain had just 60 gyms and €35 ​​million in EBITDA. Since then, it has integrated Smartfit, Macro Fit, Altafit, One Fit, Body Factory, Fitup, Dreamfit, Fitness4All, BeWay, and—most recently—Synergym, expanding the network to approximately 450 locations. The company is already a sector leader in Spain, alongside the Dutch chain Basic-Fit. Acquiring Fitness Park would reinforce the investment firm's commitment to consolidating the low-cost fitness sector in Southern Europe—a market that remains highly fragmented. The strategy involves acquiring chains, merging them, achieving scale, and improving margins—a model considered highly scalable.