Patria Investments closes cycle of over 15 years and sells 100% of its stake in Smart Fit
For this year, Smart Fit projects 340 locations in the country Photo: Courtesy.
TL;DR
- Patria Investments has sold its entire 100% stake in Smart Fit after more than 15 years.
- The operation was finalized on the Brazilian stock exchange (B3) for R$ 890 million.
- This divestment marks the end of Patria's investment cycle in Smart Fit via its Private Equity Fund V.
- Smart Fit is currently the largest gym network in Latin America, operating in over 16 countries with 5.2 million clients.
- During Patria's investment, Smart Fit expanded regionally, strengthened its corporate structure, and went public in 2021.
- The company's EBITDA grew 114 times since Patria's initial investment.
- Colombia has been a strategic market for Patria, with Smart Fit being their initial entry point into the country.
- Patria reiterates its focus on identifying new investment opportunities in the region and other markets.