Former CEO of Fitness World establishes a new fitness chain

Per Lyngbak Nielsen, former CEO of Fitness World, has established a new fitness chain, FitnessX.

FitnessX has around 20 centers, and the transaction involved acquisition of fitness studios from six different sellers, including Smiley Fitness, The Club - Fitness and Fitness 1. Jens Refsing Andersen who owned Fitness 1 has joined FitnessX with all of the Fitness 1 centers.

The new team at FitnessX expects to consolidate 100 centers over the next five years, and even though Corona has made a big influence on the fitness culture, Per Lyngbak Nielsen states that it is never bad to start in a difficult market and that they are prepared.

Per Lyngbak Nielsen was advised by Karsten Pedersen, Sara Schjørring and Per Kristiansen, DLA Piper Denmark.

You can read more here (article in Danish).