HPE Growth-backed EGYM buys French startup Gymlib

EGYM, a portfolio company of HPE Growth, has acquired Paris-based Gymlib for a “high double-digit million purchase price.” Gymlib aggregates thousands of gyms to offer sports and wellbeing service for companies and their employees.

PRESS RELEASE

Amsterdam, 27 April 2022 – EGYM, the Munich-based HPE Growth portfolio company and German market leader, has acquired the Paris-headquartered French market leader Gymlib for a high double-digit million purchase price.

Over the last five years HPE Growth has supported EGYM in becoming Germany’s leading provider of corporate fitness solutions with its qualitrain brand. EGYM relies on a fast-growing customer base of circa 3,600 corporate customers, whose employees have access to over 5,500 top-quality fitness facilities across Germany. The acquisition will combine these customers with Gymlib’s 600 corporate customers and 4,300 fitness facilities across France and Belgium.

EGYM CEO Philipp Roesch-Schlanderer said: “Sébastien Bequart and his co-founder Grégoire Véron have worked tirelessly since Gymlib’s beginnings to connect the fitness industry and the corporate health market. We are very impressed by the entrepreneurial spirit of the two Gymlib founders, who have massively grown their business, especially during and after the pandemic, with a clear focus on market leadership and capital efficiency. We look forward to providing technology and capital to support the realization of our common goal of providing employees in all industries with easy and affordable access to health-oriented training.”

HPE Growth Managing Partner Manfred Krikke added: “The acquisition of GymLib by EGYM is a great opportunity for two leaders on their national stages to combine and challenge on the continental level. We look forward to supporting Philipp and Florian to grow the business and bring value to businesses across Europe. The corporate wellness market in Europe is growing at a rapid pace with businesses in all industries launching schemes for their employees. As employees and employers alike continue to become more aware of the importance of wellness and wellbeing, we see EGYM being there to fill the demand. The HPE Growth team is proud to support EGYM in bringing wellness to corporate customers across two of Europe’s largest markets, and to support their growth above and beyond,”

About HPE Growth
With over €600 million in assets under management HPE Growth is a leading European investment platform focusing on minority investments in digital sectors including Software, FinTech, Consumer Internet and Digital Health. Portfolio companies include WeTransfer, SendCloud, eGym, PPRO, Tiqets and Uberall. HPE is a specialized technology investor, investing in early-mid growth stage companies, as they scale globally from around €10 million in revenue into digital European champions with over €100 million in revenue. We support the founders and management teams addressing the challenges of such growth by building world class teams and organizations while fostering the fast moving entrepreneurial, innovative culture that is key to their success. Our mission is to amplify the positive impact of innovation by scaling technology companies globally while generating outsized returns for our investors. HPE has been a signatory to the United Nations Principles for Responsible Investment since 2009 and committed to the ESG Principals. (www.hpegrowth.com)

About EGYM
EGYM is a global fitness technology leader providing fitness and health facilities with intelligent workout solutions. EGYM makes exercising smarter and more efficient with its comprehensive suite of connected gym equipment and digital products that integrate seamlessly with 3rd-party hard- and software. EGYM enables gym owners and operators to leverage a fitness technology ecosystem that delivers a fully connected workout experience for exercisers and drives measurable business and health outcomes on and off the fitness floor. EGYM’s global headquarters are in Munich, Germany, with additional offices across Europe, and North American offices in Denver, Colorado. (www.egym.com)