Health and fitness platform, Ultimate Performance, has announced a major deal with private equity firm, Inflexion, in order to further its expansion plans. The Manchester-based company, which specializes in personalized training and nutrition programmes, has been in talks with Inflexion for several weeks and has now reached an agreement.
The deal will see Inflexion acquire a stake in Ultimate Performance, providing the necessary resources for the company’s growth. Ultimate Performance, founded in 2009 by Nick Mitchell, currently operates 24 sites and employs over 450 individuals, including 350 personal trainers. Its services are available in the UK, US, Middle East, Asia, and Australia.
Inflexion, known for its investments in companies such as Goals Soccer Centres and Virgin Experience Days, will be supporting the existing management team at Ultimate Performance. This team, led by Steve Brice, will now have the additional expertise of Simon McMurtrie, former chairman of Virgin Experience Days, as the newly appointed chairman.
While the details of the transaction have not been disclosed, it is understood that Inflexion will be buying out a number of existing investors. The size of the stake acquired and the valuation of the company are yet to be revealed.
In response to Sky News’ enquiry, Mr. Brice stated, “Ultimate Performance is committed to changing the way our clients live. We are excited to be partnering with Inflexion to continue the growth of the business and, in particular, build its global presence.”
PricewaterhouseCoopers advised Ultimate Performance while Houlihan Lokey advised Inflexion in this transaction. With this new partnership, Ultimate Performance is poised to achieve even greater success in the health and fitness industry.
