Smart Connection Consultancy is a boutique sport and recreation consultancy who has become one of Australia’s leading advocates for the use of synthetic sports surfaces as a vehicle to grow…read more
Viva Leisure expands Queensland operations with addition of two more Healthworks clubs
Fast growing fitness operator Viva Leisure is to further expand its entry into the Queensland market with the announcement that it has executed a binding sale and purchase agreement for two Healthworks Fitness Centres in the south east Queensland suburbs of Cleveland and Victoria Point.
The acquisition sees Viva Leisure expand its presence in the Queensland market and comes less than a month after Viva Leisure announced its previous acquisition of eight Healthworks locations.
The acquisition price represents a headline multiple of 2.50 times normalised earnings in the last financial year before interest, taxes, depreciation, and amortisation (EBITDA), before synergies and will contribute approximately $250,000 in EBITDA on a full-year run-rate pre-synergies.
Completion is expected to occur within the next 30 days and will add approximately 2,500 new members to Viva Leisure’s growing portfolio.
Commenting on this latest acquisition, Harry Konstantinou, Viva Leisure's Chief Executive and Managing Director of Viva Leisure, advised "expanding on our previously announced Queensland acquisition means Viva will be one of the largest club owners in the Queensland market with 10 owned locations at the completion of the acquisition.
“We continue to be excited about the Queensland market and the opportunities available for further acquisitions and greenfield locations. We confirm our previous guidance that we expect to be operating over 15 locations in Queensland within the next 12 months.”
Since its floatation in June this year, Viva Leisure has been the fifth best performing IPO of the year.
Viva Leisure currently has 45 locations operating, with a further five locations (four in the ACT and two in NSW) to open in December 2019, and with the 10 acquired Queensland locations (via the two separately announced acquisitions), will see it operating in 60 locations by the end of the 2019/20 financial year, with a further 12 locations in the pipeline.
This will represent a 50% increase in the number of clubs operating since 30th June 2019, equivalent to a new location opening on average every 1.3 weeks.
Image courtesy of Healthworks.
28th August 2019 - Viva Leisure 2018/19 financial results exceed prospectus forecasts
8th August 2019 - Viva Leisure launches new app to offer keyless entry into clubs
8th June 2019 - Investors welcome Viva Leisure’s ASX listing
10th May 2019 - Viva Leisure lodges prospectus and application for ASX listing
23rd January 2019 - Viva Leisure looks to continue fitness club expansion through 2019
13th November 2018 - HIIT Factory plans 15 new franchised studios
29th October 2018 - VIVA Leisure delays IPO plans
Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?
The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.
However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.
Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.
Subscriptions cost just $90 a year.
Click here to subscribe.
The Complete Guide to Leisure Industry Products & Services.
As of the 1st July 2018, Enta Australasia Pty Ltd/Best Union has been rebranded as VIVATICKET Pty Ltd. Click here to view the VIVATICKET Pty Ltd listing. 19th July 2018 - ENTA…read more
Fun Wheels Pty Ltd are the premium dealer in Australasia for the Dutch company BERG’s commercial and domestic products. Our flagship product is their revolutionary pedal go-kart – the…read more
Whether your goal is increasing your centre's revenues or creating an engaging environment, why not add play to your project? If you're looking for stylish aquatic play features, kid-tested…read more
APT (Advanced Polymer Technology) is the leading global manufacturer of polyurethane-based materials, acrylic coatings and synthetic turf products for sporting and recreational applications. From…read more
Developed in Europe, this innovative system offers a safety management solution for swimming pools that checks individual swimmers via their wristband - monitoring their depth and time. Sensors…read more
Polin was founded in Istanbul in 1976, and has since grown into a leading company in the waterparks industry. Today Polin is one of the world leaders in the design, production, and installation of…read more
Hadley Australia and Series Australia Pty Ltd are the leading quality theatre chair manufacturers in the southern hemisphere. The businesses work closely with architects, interior designers and…read more
get listed with our suppliers directory
Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!