- Basic-Fit is buying 41 Wellyou clubs in Germany for €52 million, This expands its German footprint from 74 to 115 sites.
- The deal represents a 5.3x multiple based on Wellyou’s 2025 club EBITDA.
- All locations will be rebranded after the deal is finalised.
Europe’s largest low-cost operator, Basic-Fit, has agreed to acquire 41 Wellyou clubs in Germany for €52m.
The acquisition – predominantly featuring clubs located across northern Germany – will expand Basic-Fit’s footprint in the country from 74 owned clubs to 115, with an extra 110,000 members. The company has a strategy to accelerate growth in Germany through the acquisition of established, profitable clubs in attractive locations.
Based on the 2025 Club EBITDA, the purchase price represents a multiple of 5.3 and the deal is expected to complete by the end of Q3 2026, subject to regulatory approval, after which all sites will undergo a full brand transition.
The club-level multiple is not directly comparable with conventional enterprise value to EBITDA multiples, as it excludes central overheads. Acquirers sometimes value health club portfolios on club EBITDA because duplicated head office costs can be removed following integration, meaning reported group EBITDA multiples are typically higher.
Based on the acquisition price, the deal equates to an average valuation of around €1.27 million per club, with each site generating an average €239,000 of club-level EBITDA. On a membership basis, Basic-Fit is paying approximately €473 per member, while club-level EBITDA equates to around €89 per member per year.
Basic-Fit did not disclose how the acquisition will be financed. The company has previously said it has substantial available liquidity and intends to pursue bolt-on acquisitions as consolidation opportunities arise
Once the company hits a critical mass of 200 sites in Germany, Basic-Fit says there will be increased marketing investment to drive stronger brand recognition and improved membership conversion.
Basic-Fit has identified three growth pillars to optimise returns: organic growth, inorganic growth and franchising.
