London-listed private equity group 3i has spent £93 million on a significant stake in discount gym operator Basic-Fit, investing alongside Rene Moos, the co-founder and chief executive of the fitness business.

The deal with the private equity firm places an enterprise value on Basic-Fit, a European gym operator, of €275 million, according to a statement from 3i.

Deal part of wider trend of private equity firms buying up budget gym businesses this year

Ben Harrington 

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3i buys stake in European gym chain

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