Alter Capital Increases Its Stake in Wifit Gyms to 55%
Alter Capital Desarrollo, a national private equity firm, has strengthened its commitment to Wifit Gyms by increasing its shareholding to approximately 55%, thereby taking majority control of the company. The fund manager —whose investors include Corporación Financiera Azuaga— has carried out a new capital increase after acquiring a minority stake exactly one year ago. The decision follows the company’s strong performance, which has already reached 9,000 subscribers in its first year, according to Ángel González, Partner at the firm, in statements to this newspaper.

The capital injection aims to further accelerate the rollout of new gym openings across the Iberian Peninsula at a time of intense activity in the fitness sector, where various private equity funds and high-net-worth individuals (Portobello in Sidecu, Formentor Capital in BeOne, Seas Capital in Synergym, or Torreal in GoFit, among others) have taken positions to build national leaders.

Wifit Gyms Expansion: Five Centres and New Openings Planned Through 2026
Wifit Gyms —whose minority shareholders are its founders, José Luis Torrecilla and Íñigo Moreno-Luque— currently operates five sports centres, all located in Spain, with several in Madrid. Its next opening will take place in the Chamberí district. Four additional openings are scheduled through 2026.

The transaction comes amid a surge of investment activity in the fitness sector. In fact, Torrecilla and Moreno-Luque previously sold their first project, iFitness, to the Altafit group, a company then owned by Spain’s MCH Private Equity and now owned by the U.S. megafund Providence, which has begun a consolidation phase in Spain.

Alter Capital: A Manager with Offices in Seville and Madrid and a Diversified Portfolio
With operational teams based in Seville and Madrid, Alter Capital holds both minority and majority positions in various companies. Last year, it acquired Trending Corporate, a company that manufactures and markets cosmetic products and nutritional supplements.

Its portfolio also includes companies such as Dental Company, a dental clinic chain currently up for sale after mandating Arcano; Kampaoh, a camping operator in Spain also backed by JME —the investment arm of José Manuel Entrecanales for startups—; Dawn Energy, an operator of photovoltaic assets for industry; and Wuolah, a university platform for sharing study materials.

Although Alter Capital’s operations traditionally focused on ticket sizes of up to €10 million, the firm has increased its investment capacity by entering into a managed account agreement with an undisclosed pan-European fund, allowing it to execute buyouts of up to €35 million.

Fuente:https://www.eleconomista.es/capital-riesgo/noticias/13426387/06/25/alter-capital-toma-el-control-de-los-gimnasios-wefit-gyms.html