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G+T advises on sale of leading fitness brand
Gilbert + Tobin is pleased to be advising Oaktree on its highly anticipated sale of Fitness First’s Australian business.
With approximately 60 outlets across NSW, Queensland, Victoria and the ACT, Fitness First’s entire Australian portfolio of gyms will join Quadrant Private Equity’s ‘Fitness and Lifestyle Group’, propelling it to the status of Australia’s largest gym group, servicing 650,000 members.
The sale follows Quadrant’s acquisition of Ardent Leisure’s health club business earlier in the year for $260 million, on which Gilbert + Tobin also advised.
Andrew Bullock is leading the team, supported by partners and lawyers Tax, Competition, Property, Banking, Intellectual Property, Employment, TMT and Litigation, including Tim Gole, Charles Coorey, Amanda Hempel, Gail Christopher and Lisa Lennon.
Gilbert + Tobin’s M&A team consistently advises on the largest deals in the market including the A$12.6 billion bid for Asciano, Australia’s largest 2016 M&A deal to date, as well as the A$10.2 billion TransGrid deal. In 2015, the M&A team acted on four of the five largest M&A deals announced in Australia.