Welcome to The Pool Enclosure Company (TPEC). We provide a large range of premium commercial and residential retractable swimming pool, spa and terrace enclosures throughout Australia, servicing…read more
Asian fitness club merger sees creation of Evolution Wellness
Celebrity Fitness and Fitness First Asia have merged to create one of the largest fitness club networks in Asia.
The new entity, Evolution Wellness, will comprise 152 wholly-owned fitness clubs across the continent, serving 400,000 members with a combined staff of 7,000.
Fitness First Asia has clubs in Hong Kong (nine clubs), Indonesia (11), Malaysia (12), Philippines (13), Singapore (17) and Thailand (28) while Celebrity Fitness has operations in Malaysia (23 clubs), Indonesia (35) and Singapore (four).
Celebrity Fitness and Fitness First Asia recorded revenues of US$76 million and US$219 million respectively for the 2016 financial year.
Commenting on the merger, Simon Flint, the former Fitness First Asia and now Evolution Wellness Chief Executive, stated “we’re turning the page and beginning an exciting new chapter for Celebrity Fitness and Fitness First.
“Joining forces will allow us to operate with increased scale, reach, and efficiency, to enhance our members’ experience through the continued expansion of our club networks, faster innovation and product evolution, as well as improved service standards.
"I am honoured and proud to be leading this team; this merger creates a unique opportunity to build on the success of both brands, and I am confident we will further energise the Asia fitness market with the collective expertise and experience we now have as one unified team.”
Evolution Wellness’s plans include improving member access privileges across the network and adding new locations.
Celebrity Fitness Chief Executive Martin Darby added “Celebrity Fitness and Fitness First complement each other in their distinctive brand identities and market positioning. This merger will enable both brands to expand faster and move into new Asian countries. I look forward to assisting Evolution Wellness with this strategic expansion.”
Oaktree, a global investment firm, and Navis, a private equity company, will own an equal share in Evolution Wellness.
In September last, Quadrant Private Equity purchased Fitness First’s Australian clubs while DW Sports bought Fitness First UK and its 62-club portfolio.
Image: Simon Flint, former Fitness First Asia Chief Executive now heads Evolution Wellness.
30th November 2016 - FITNESS FIRST’S NEW ‘TITANIUM’ CLUB LAUNCHED AS AUSTRALIA’S FIRST ‘CONNECTED GYM’
29th September 2016 - QUADRANT EXPANDS WELLNESS EMPIRE WITH ACQUISITION OF FITNESS FIRST AUSTRALIA
19th August 2016 - ARDENT LEISURE SELLS GOODLIFE HEALTH CLUBS IN $260 MILLION DEAL
8th April 2016 - OWNERS LOOK AT SALE OF FITNESS FIRST’S GLOBAL OPERATIONS
24th January 2016 - FITNESS FIRST MARKS 10 YEARS IN THE MIDDLE EAST
31st August 2015 - FITNESS FIRST OPENS EXCLUSIVE GRAVITY CLUB IN SINGAPORE
4th December 2014 - FITNESS FIRST INDIA TO OPEN 30 NEW FITNESS CLUBS
3rd June 2014 - FITNESS FIRST TO EXPAND PHILIPPINES PRESENCE
22nd January 2014 - FITNESS FIRST AUSTRALIA REVEALS NEW APPROACH TO FITNESS
16th January 2014 - FITNESS FIRST TO MOVE BRAND UPMARKET WITH $490 MILLION GLOBAL REVAMP
28th June 2013 - CELEBRITY FITNESS TO OPEN 50 NEW CLUBS
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