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Canada’s largest fitness club operator announced the agreement Monday, in a deal reportedly valued at around $2 billion, marking the first time the chain has brought in outside equity capital. (The Logic, Reuters)
Talking point: In a press release, GoodLife said the funds will advance its long-term growth strategy and enhance its leadership position in the fitness market. GoodLife founder David Patchell-Evans, who will remain chairman and an investor in the company, said in the release that the Apollo investment will help GoodLife build on nearly 50 years of success. Apollo, which manages approximately US$908 billion of assets as of September, is making this investment through funds associated with its hybrid strategies. GoodLife operates more than 400 fitness clubs and serves about 1.5 million members across Canada.
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