Anytime Fitness Asia Acquired by Inspire Brands Asia Amidst COVID-19 Crisis
Posted: May 27, 2020 in Chains
SINGAPORE – Anytime Fitness Asia has been purchased by Inspire Brands Asia, a consortium of its top submaster franchisees in Malaysia, Philippines, and Singapore; lead investor Exacta Capital Partners; and co-investor Aura Group. The acquisition includes the Master Franchisee license in Singapore, Malaysia, Philippines, Indonesia, Thailand, Taiwan, Vietnam, Hong Kong and Macau, with over 350 locations sold and over 250 gyms opened.
Their owned gyms and gym management businesses were also merged into the group, which operate over 30% of the brand’s footprint in Asia. In the last four years, Anytime Fitness Asia recorded compound annual growth rates of 49% in franchise sales and 55% in gym openings.
Luke Guanlao, Inspire Brands Asia Group CEO and Anytime Fitness Asia COO summarizes, “I have been with Anytime Fitness for over 10 years, and we are positioned strongly to take advantage of opportunities that will open up as our gyms reopen and we navigate a new normal after this pandemic.”
Johannes Raadsma, Chief Growth Officer, Anytime Fitness Asia, states, “Hong Kong’s reopening shows that usage is as strong as it was pre-COVID-19. With our track record in gym management, we can support operators and investors in a profitable business that also welcomes people into a new and healthier lifestyle.”
Kota Igarashi, Chief Executive Officer of Mizuho Asia Partners, investment advisor to Exacta Capital Partners, says, “Anytime Fitness Asia set the standard in fitness for value delivered to franchisees and members. Its outstanding value proposition and differentiated model uniquely position it to thrive post-COVID-19. We are proud and excited to partner with an incredible team that has the track record and skillset to help franchisees and members achieve their goals.”
Charles Wong, Executive Director of Aura Group, agrees, “Completing the deal in this black swan backdrop involved assessing the brand’s capacity to withstand enforced closures, and a long-term outlook on the industry. Anytime Fitness Asia is proven and capitalizes on its smaller footprint in accessible community locations and lower cost of entry and maintenance, which ensures that gyms will reopen safely and grow post-COVID-19. The brand, the model, and the experience of our partners are why we at Aura are privileged to be part of this landmark deal.”
Says Anytime Fitness Asia Chief Support Officer, Andrea Bell, “Engagement and profitability are connected, and we have robust systems that ensures both owner operators and investors who use gym management services, see results with their members, staff, and bottom line.”
Anytime Fitness Asia will continue to be headed by CEO Rey Bolivar, summarizes the deal, “Our lives have changed, and Anytime Fitness Asia is prepared to change along with the times to support our members, staff, and franchisees beyond the crisis. We look forward to welcoming members as we reopen, and welcoming opportunities as they come.”