- Sherpa Capital, a private equity focused on investing in mid-market Iberian companies with more than €500 million under management, will support BPXport, a nationwide operator of concessional sports centres, , in the acquisition of CDO.
- With the investment of Sherpa Capital, the incorporation of CDO Almendrera and CDO Covaresa sports centers to the BPXport platform has been formalized. Located in Valladolid, CDO Covaresa is among the largest concessional sports centres in Europe.
- This transaction falls with in Sherpa Capital's strategy of investing in growth companies, focusing on opportunities with high expansion and consolidation potential.
- Founded in 2006 by a group of professionals with extensive experience in the fitness industry, BPXport currently manages 20 concessional sports centres and 25 service contracts in Guipúzcoa, Vizcaya, Navarra, Cantabria, Madrid, Valladolid, Valencia and Granada. With the incorporation of CDO Covaresa and CDO Almendrera, BPXport now manages around 150,000sqm of sports facilities, employs around 800 people and generates annual revenues of around 30 million euros.
- BPXport is infull execution of its growth plan after taking over the management of four relevant facilities in recent months: "BPXport Los Prunos", located in Madrid's Hortaleza district; "BPXport Riberas" (San Sebastian), which opened to the public last March after a comprehensive refurbishment; "BPXport Zuhaizti" (San Sebastian), a sports centre whoserefurbishment work is at an advanced stage and whose opening will be imminent;and "BPXport Sopelana", a centre whose refurbishment and opening isexpected in the coming months.
- Laura Areizaga, Director of Sherpa Capital, commented: "We are delighted to support BPXport in acquiring a leading fitness centre such as CDO. The fitness industry is booming thanks to increasingly healthy life styles. We expect the current process of consolidation in the industry to intensify over the next years, leading to the creation of operators that will need to be larger to compete. BPXport is in good health after experiencing strong growth under the leader shipof an excellent management team and has all the resources to consolidate itsposition as one of the leading sports centre operators in Spain."
- Beñat Barrio, founder and CEO of BPXport, added: "Sherpa Capital is the ideal partner to join us in this new stage, in which our objective will be to consolidate our presence at a national level and look for different geographical areas to expand our activity. The market for sports centres in Spain is still very fragmented and we are confident that having the support of an investor with resources, knowledge and an extensive network of contacts will help us identifyand implement strategies for organic and inorganic growth".
- Gómez-Acebo &Pombo and KPMG have acted as legal and financial advisors to Sherpa Capital,respectively. GBS acted as financial advisor to the seller.
- About Sherpa Capital
- Sherpa Capital is the leading private equity fund manager in the Iberian Peninsula ininvestments in medium-sized companies with growth potential and value generation through business improvement processes. It currently has a team of more than 35 professionals and manages more than 500 million euros.