Providence Equity Partners to acquire Viva Gym from Bridges Fund Management.

Providence Equity Partners, a private equity firm, agreed to acquire Viva Gym, a low-cost gym operator, from Bridges Fund Management, a private equity firm. Financial terms were not disclosed. “Europe’s fitness industry is one we have studied closely for ten years and we believe now is the right time to partner with a leader like VivaGym in this highly attractive market. In our view, VivaGym is a classic Providence investment: a solid business model with loyal customers, engaged and talented employees, and an established brand. At the same time, we believe VivaGym has significant growth potential and we look forward to working closely with Juan and his team to continue capturing the attractive market opportunity. With nearly 20 years of experience investing in Spain, and prior experience partnering with leisure businesses, we believe Providence is well positioned to support VivaGym as it enters an exciting new phase of growth," Robert Sudo, Providence Equity Managing Director.