Credo Partners invests together with the founders of Toten Treningssenter, Trento, Trimhuset, Sprek365 and Nr1 Fitness in what will become a new top 3 player in the fitness center industry in Norway. The group operates 64 full-scale, and express centers in Sunnmøre, Hordaland, and Østlandet/Innlandet, with a focus on local roots and good customer experiences.

All the founders are also involved as key persons and as shareholders in a jointly owned holding company. Together, the partnership will develop the group into a solid platform with an even greater focus on competence, well-being, and sustainability. Through both new establishments and through connecting several like-minded entrepreneurs and high-quality concepts, the ambition is to become a nationwide provider of good training experiences.

“With the establishment of this partnership, we are helping to create a top 3 player in the fitness industry in Norway – an industry that is still dominated by a number of small chains and individual centers. We believe that many of these smaller players will be able to lift both the customer offer and their own bottom line by becoming part of a larger system, and we look forward to being able to contribute to realizing these gains in the new group. Our common ambition is to be able to offer a differentiated and complementary offer in the market, as well as contribute to continued positive development for the industry,” says Victor Evensen in Credo Partners.

Synergos acted as the exclusive financial and strategic advisor to Nr 1 Fitness AS