We invested in the fitness club operator ELIXIA in 2006, seeing a growing awareness of exercise and the benefits of a healthy lifestyle among people in the Nordic region. We helped the company expand and enhanced its service, including introducing personal trainers, and developed a plan for acquisitions. ELIXIA grew to become the largest and most profitable operator of fitness clubs in Norway and Finland. At the time of our exit, the company owned 47 fitness clubs, with a particularly strong presence in Oslo, Helsinki and Stavanger.
- Investment date: September 2006
- Exit date: June 2011
- Industry: Consumer Markets
- Fund: Fund IV
- Web page: www.sats.no