Interesting to discover that Candover Private Equity has purchased a 40% stake in Technogym for an undisclosed sum.
Technogym was founded in 1983 by Nerio Alessandri in his garage in Gambettola in central Italy. It has over 1,400 employees and supplies over 50,000 fitness facilities worldwide as well as 20,000 private homes. The company designs and manufactures commercial and home fitness equipment and is the official provider of training equipment for the 2008 Olympic Games in Beijing. 2007 turnover was €375 million (euro) with the company experiencing a 35% annual average growth rate since its inception.
Aldo Maccari, Director and Head of Candover Italy, said:
“We are delighted to be partnering with Nerio Alessandri and his team who have already built up an exceptional business and a premium brand. They remain ambitious in their plans to continue to grow the business in new geographies and new customer segments. As the problem of world obesity increases and governments move from a treatment to a prevention model, health and exercise are becoming a critical focus of the modern world. That is why we are excited to be investing in the global champion of the Wellness industry”.