ACTIC and INJOY have entered into an agreement according to which ACTIC’s German subsidiary, Actic Fitness GmbH, including its 21 German and one Austrian club, is sold to INJOY Quality GmbH (a company within the ACISO group). The purchase price amounts to EUR 3.3 million.

Actic Fitness GmbH
Actic Fitness GmbH is a 100% owned subsidiary that operates gyms through 21 clubs in Germany and one club in Austria.
INJOY Quality GmbH
INJOY is a 100% owned subsidiary of ACISO Holding GmbH and conduct gym operations through a franchise system via approximately 130 clubs in Germany and Austria. (
Background to the transaction
Actic, founded in 1981, is a Northern European fitness chain with over 150 clubs in four countries. The background for the transaction is to free up financial and administrative resources to enable a greater focus on the core markets of Sweden and Norway.
The transaction in brief

  • ACTIC and INJOY have agreed to sell and acquire respectively all shares in Actic Fitness GmbH on the terms set out in the share purchase agreement.
  • The shares must be transferred to the buyer on the closing date, which according to the share purchase agreement means five working days after the agreement enters into force, planned to March 23, 2023.
  • Total purchase price amounts to EUR 3.3 million, of which EUR 2.6 million in cash on the day of closing, EUR 0.5 million divided between two equal-sized debentures with maturities of three and nine months, respectively, and EUR 0.2 million linked to an earnout model calculated on an expected EBITDA result for 2023
  • Capital gain from this transaction is estimated to EUR 2.2 million

‘We are happy to announce that we have completed this transaction in line with established strategy of increasing focus on our home markets, namely Sweden and Norway’, says Anna Eskhult, CEO of Actic Group AB.
‘Although Germany is an interesting market, it is also quite different than Sweden and Norway both when it comes to size and consumer behavior. By selling our German clubs and the Austrian stand alone club to INJOY we free up resources both financially and administratively to increase focus and speed in our home markets development, building stronger and better clusters of clubs and services to attract even more members’, Anna adds.
‘ACISO and its subsidiary INJOY with approx. 130x INJOY locations in Germany and Austria have been interested in ACTIC’s German/Austrian Club portfolio for some time due to its complementary fit to INJOY’s quality and service focused fitness concept as well as ACTIC’s unique combination of fitness training inside municipal pool facilities’, says INJOY’s Co-CEO Alexander Benker .
‘Both ACTIC Germany and INJOY rank among the top 3 in terms of quality and service in the 2022 Fitness Studio Ranking of “Deutsche Institut für Service-Qualität”.  So customers will benefit the most from this combination.  Offering INJOY customers the Actic combined fitness & pool concept and offering ACTIC customers INJOY’s quality and service concept is a true win-win for end-customers’, added Co-CEO Thorsten Kielmann.
Press contact INJOY – Ulrike Schönfelder +49 171 243 1029

© Modular Finance, source Nordic Press Releases