Nectar Capital announces the acquisition of Triyoga by United Fitness Brands. United Fitness Brands was formed in 2021 from the successful merger between Boom Cycle and KOBOX, followed by the acquisition of Barrecore in mid 2021.Following the acquisition of Triyoga, United Fitness Brands is firmly established as the largest and most successful boutique fitness group in the UK.
TriYoga was founded in 2000 by Jonathan Sattin, whose vision for the highest quality yoga and personal wellness training led to the establishment of one of the world’s best regarded yoga groups with 5 locations throughout London, pre-eminent teacher training, a wide-ranging and much sought menu of wellness and treatments, and one of the UK’s most innovative and largest digital fitness businesses, with the delivery of live online yoga classes to thousands of practitioners around the world every month.
Jonathan Sattin will join the board of UFB to bring his unique vision for boutique fitness to the group. Roy Convery of Argyll Partners also joins the UFB board.
UNITED FITNESS BRANDS
United Fitness Brands now has 27 locations including 3 outside of London, with 3 new multi-brand locations in the pipeline. UFB continues to develop its pipeline of additional best-in-breed acquisitions and is in advanced negotiations with a number of other fitness groups whose profile fits the UFB blueprint for success.
Scott Rudmann, Managing Partner of Nectar Capital said: “TriYoga is a brand with deep meaning to its customers. Its delivery of yoga and wellness to its clients demonstrate the quality and commitment of UFB to ensuring the market-leading fitness experience across all its disciplines with its four brands. The human talent joining the executive suite as part of the transaction is remarkable, and certainly will add to the credentials and growth trajectory of the group overall”
David Lloyd, Chairman of United Fitness Brands said: “With the addition of
Triyoga to the UFB group, we have the commitment, the human talent, and the scale to ensure we lead the market in delivering the best quality boutique fitness to our clients and a profitable business for shareholders.”
The acquisition of TriYoga was enacted as a cash and shares transaction with the Nectar Global Credit Opportunities fund and Pembroke VCT acting as anchor investors, along with participation from numerous UFB shareholders.
Nectar Capital acted as corporate finance advisor to UFB for the transaction.