Eversheds Sutherland is advising Bridges Fund Management, owner of the VivaGym Group, on the sale of the Iberian gym group to Providence Equity Partners

Eversheds Sutherland, in Portugal and the UK, has advised Bridges Fund Management on the sale of the VivaGym Group (Fitness Hut, in Portugal), one of the leading low-cost gym operators in the Iberian Peninsula, to Providence Equity Partners, a venture capital fund manager. The deal is expected to be completed by the end of the second quarter of 2024, subject to regulatory approvals. This operation involved Portugal, Spain and the United Kingdom and involved, in addition to Eversheds Sutherland, Pinsent Mason, Madrid, for Bridges Fund Management and Uría Menéndez and Allen & Overy, for Providence Equity Partners.

The Eversheds Sutherland team was led by Louise Finnie and Amy Bagni, in London, and in Portugal included M&A Partners Pedro Guimarães and João F. Osório de Castro, as well as Diogo Bernardo Monteiro, Tax, Inês Albuquerque e Castro, Labor and Sara M. Rodrigues, Competition.

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