Due diligence investigation: Acquisition: Smart Fit
Smart Fit was founded in 2013 by Rick During, who opened his first gym in Vlaardingen. In just eight years, Smart Fit expanded to eight locations in Vlaardingen, Nieuwegein, Apeldoorn, Amsterdam, Hilversum, Nieuw-Vennep, Epe, and Ede.
Smart Fit built its reputation on smart technology, user-friendly gyms and a strong value-for-money proposition. For personal reasons, Rick During decided it was time to transfer Smart Fit to a strong new owner, finding a good match in ProFit Gym, led by young entrepreneur Rutger Brakel.
Growing a proven concept
Rutger Brakel, now 35 years old, launched his first ProFit Gym in Ommen back in 2008, which was followed by a period of steady expansion. What started as a concept focused on affordable fitness and group classes has evolved into a model that sees each ProFit Gym location offer a broad range of sports and services for one accessible all-in price.
With the acquisition of Smart Fit, Rutger expands ProFit Gym, which already operated nine locations in the eastern, central and northern parts of the country, with Smart Fit’s nine gyms, effectively doubling the size of ProFit Gym and broadening its market coverage.
All Smart Fit locations will continue under the ProFit Gym name and branding.
Due diligence
The corporate finance advisers of de Jong & Laan carried out a financial due diligence investigation of Smart Fit.
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