Anytime Fitness Asia Acquired by Inspire Brands Asia Amidst COVID-19 Crisis
SINGAPORE, May 26, 2020 /PRNewswire/ -- Anytime Fitness Asia has been purchased by Inspire Brands Asia ("IBA"), a consortium of top submaster franchisees; lead investor Exacta Capital Partners; and co-investor Aura Group. It includes the Master Franchisee license in Singapore, Malaysia, Philippines, Indonesia, Thailand, Taiwan, Vietnam, Hong Kong, and Macau, with 350+ locations sold and 250+ gyms opened. Their owned gyms, and gym management businesses are included, which operate 30% of its gyms in Asia. In the last four years, it had compound annual growth rates of 49% in franchise sales and 55% in gym openings.
Luke Guanlao, IBA Group CEO and Anytime Fitness Asia COO summarizes, "I have been with Anytime Fitness for 10 years+, and we are positioned strongly to take advantage of opportunities as our gyms reopen and we navigate a new normal."
Johannes Raadsma, Chief Growth Officer, states, "Hong Kong's reopening shows gym usage at pre-COVID-19 levels. With our track record in gym management, we can support operators and investors in a profitable business that welcomes people into a healthier lifestyle."
Kota Igarashi, CEO, Mizuho Asia Partners, investment advisor to Exacta Capital Partners, says, "Anytime Fitness Asia set the standard in fitness in value for franchisees and members. Its value proposition and model uniquely position it to thrive post-COVID-19. We are proud to partner with a team that has the track record and skillset to help franchisees and members achieve their goals."
Charles Wong, Aura Group Executive Director, agrees, "Completing the deal involved assessing the brand's capacity to withstand closures, and a long-term outlook on the industry. Anytime Fitness Asia is proven and capitalizes on its smaller footprint in community locations and lower entry and maintenance cost, which ensures gyms will reopen safely and grow post-COVID-19. The brand, the model, and experience of our partners are why Aura is privileged to be part of this landmark deal."
Says Chief Support Officer, Andrea Bell, "Engagement and profitability are connected, and we have robust systems that ensure owner operators and investors who use gym management services, see results with members, staff, and profits."
CEO Rey Bolivar, summarizes, "Our lives have changed, and we are prepared to change along with it to support members, staff, and franchisees beyond the crisis. We look forward to welcoming members as we reopen, and welcoming opportunities as they come."