Malaga-based VivaGym takes over rival Synergym and creates fitness giant with more than 450 centes in Spain

Sports

The low-cost gym chain relies on foreign sponsorship from private equity fund Providence

Nuria Triguero

Malaga

The low-cost gym market in Spain is experiencing a battle for leadership, with two competitors standing out for their strength. Both are based in Malaga but are backed by foreign capital: VivaGym and Synergym.

On Monday, VivaGym took over Synergym, creating a fitness giant with more than 450 centres across mainland Spain and Portugal (290 from VivaGym and more than 160 from Synergym).

Still subject to regulatory approval, the deal merges two businesses to create a large-scale sports and wellness platform in Spain and Portugal. Both companies were founded around the same time (VivaGym in 2010 and Synergym in 2013) in Malaga, but they followed different paths. While Synergym opted for 100 per cent organic growth, VivaGym has acquired other operators in the sector, including Smartfit, Macrofit, Altafit, Fitness Hut, Duet Fit and Happy Gym.

The agreement represents a "key milestone" for VivaGym's expansion plan to dominate the fitness sector in Spain and Portugal. "The merging aims to create the strongest platform, best positioned to invest in innovation, improve the member experience and generate long-term value," sources say.

"This is a pivotal moment for VivaGym. This move builds on the robust growth we are already experiencing and allows us to accelerate our expansion strategy. We are merging two complementary companies to significantly broaden our reach and better serve our members across the Iberian Peninsula," CEO of VivaGym Cristina Burzako says.

"Our goal is to offer an accessible, high-quality fitness experience and this step allows us to advance in this direction. With a wider network and expanded capabilities, we believe we are ideally positioned to further enhance our offering and drive the next phase of our growth," she states.

The Providence fund

Venture capital fund Providence is facilitating this large-scale expansion plan. CEO of Providence Robert Sudo says: "This transaction aligns with our strategy of creating large-scale platforms in attractive, high-growth sectors. VivaGym has demonstrated its ability to expand and we believe this acquisition further strengthens its position in the local market. The business benefits from the growing social predisposition to invest in health and wellness and the increasing demand for accessible and flexible options. All of this in a market experiencing continuous user growth and significant room for expansion. We see great potential to further expand the platform both organically and through targeted opportunities and we look forward to continuing our work with Cristina and her team."

CEO of Synergym Jordi Bella states: "This operation is the culmination of a successful expansion period for Synergym. Joining VivaGym is the natural next step after this journey that began in 2013. The goal is to continue improving the lives of thousands of people, thanks to high-quality clubs with specialised fitness areas, high-tech equipment and highly qualified staff."

VivaGym has received advice from Boston Consulting Group, Deloitte, Uria Menendez and A&O Shearman. Synergym has been backed by Growth Partner since 2019, Oxy Capital since 2021 and All Seas Capital since 2024.