August 13, 2022
Translink Corporate Finance in Norway, Synergos, acted as the exclusive advisor to Nr1 Fitness AS on the sale to Credo Partners.
Credo Partners invests together with the founders of Toten Treningssenter, Trento, Trimhuset, Sprek365 and Nr1 Fitness in what will become a new top 3 player in the fitness centre industry in Norway. The group operates 64 full-scale and express centres in Sunnmøre, Hordaland and in Østlandet/Innlandet, with a focus on local roots and good customer experiences.
All the founders are also involved as key persons and as shareholders in a jointly owned holding company. Together, the partnership will develop the group into a solid platform with an even greater focus on competence, well-being and sustainability. Through both new establishments and through connecting several like-minded entrepreneurs and high-quality concepts, the ambition is to become a nationwide provider of good training experiences.
“With the establishment of this partnership, we are helping to create a top 3 player in the fitness industry in Norway – an industry that is still dominated by a number of small chains and individual centres. We believe that many of these smaller players will be able to lift both the customer offer and their own bottom line by becoming part of a larger system, and we look forward to being able to contribute to realizing these gains in the new group. Our common ambition is to be able to offer a differentiated and complementary offer in the market, as well as contribute to continued positive development for the industry,” says Victor Evensen in Credo Partners.
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Translink Corporate Finance is an independent partnership of firms dedicated to Corporate Finance and M&A advisory services through over 35 offices in the key markets in Europe, North and South America, Asia, Australia, and Africa. Translink has been successful in advising clients on thousands of transactions since its founding in 1972 and Translink offices have acted as advisers in over 100 M&A projects during the last twelve months.
Synergos is an exclusive partner in Norway for Translink Corporate Finance, a global network of M&A advisory firms with over 300 advisers in 35 countries around the world. Our network is unique for companies with international interest and a critical differentiator, which provides us with an unmatched reach, local knowledge, and relationships.