The GoodLife Group, Canada’s largest fitness operator, has secured a strategic minority investment led by Apollo-managed funds and affiliates associated with Apollo’s hybrid strategies, as the company looks to accelerate its long-term growth plans.
Based in London, Ontario, the privately held GoodLife Group operates more than 400 clubs across Canada and serves about 1.5 million members, positioning it among the world’s largest fitness companies. The company said the new capital will support its long-term strategy, strengthen its leadership position in the fitness market, and further enhance member and employee experiences.
Founder David “Patch” Patchell-Evans will remain Chairman, while Jeff van Haeren will continue as President and CEO, according to the company. Financial terms were not disclosed.
The transaction is subject to customary regulatory approvals and closing conditions.
Support: Guggenheim Securities served as financial advisor to the GoodLife Group. Jefferies served as financial advisor to Apollo. McMillan acted as legal counsel to the GoodLife Group, while Paul, Weiss, Rifkind, Wharton & Garrison and Blake, Cassels & Graydon served as legal advisors to Apollo.
KEY QUOTES
“People in Canada are focusing on their physical and mental well-being more than ever, and the GoodLife Group recognizes the important role that we play in helping them achieve their goals. This investment will bolster GoodLife as the leading fitness company in the country, and we could not ask for a better partner in Apollo. Our incredible leadership team and employees across all our brands are ready for growth and excited about the next phase of our company.”
Jeff van Haeren, President and CEO, GoodLife Group
“The GoodLife Group is an iconic, market-leading fitness company with a clear purpose and a strong track record of helping people live healthier lives. Patch and his longstanding leadership team have built an exceptional business over decades, and we believe Apollo’s flexible, partnership-driven capital can enable the Company to deliver on its long-term strategy and commitment to making a positive impact through fitness.”
Talaal Azeem, Managing Director, Apollo
“From the very beginning, I’ve believed in fitness as a force for transforming lives — and we see that vision realized every day in GoodLife Group gyms across Canada. The GoodLife Group creates positive social change by empowering individuals and communities to lead healthier, more active lives. Given its deep experience with founder-led companies, we believe this investment from the Apollo Funds will enable us to build on nearly 50 years of success and accelerate our next chapter of growth.”
David “Patch” Patchell-Evans, Founder and Owner, The GoodLife Group
