Deal marks company's entry into Northern Territory
Gadens has announced that it advised Viva Leisure Operations Pty Ltd on the acquisition of iFitness 24/7.
The acquisition marks Viva Leisure’s entry into the Northern Territory, adding four new locations and bringing the company’s nationwide portfolio to a total of 173 venues.
As part of the integration, Viva Leisure has shared plans to rebrand the new locations under its premier Club Lime brand, which will increase the total number of Club Lime facilities to 112.
Viva Leisure is hailed as Australia’s largest non-franchised health club brand. The swoop for iFitness 24/7 is also expected to bring over 5,000 new members to its network.
Gadens has been working with Viva Leisure to support its expansion across Australia. The team that assisted in this latest transaction included lead partner Jeremy Smith, senior associate Robert Wilson, lawyer Daphne Chiang, and lawyer Stephanie Poloyannis.
Smith commented on the deal, highlighting the collaborative nature of Gadens’ continued work with Viva Leisure.
“It has been a pleasure to continue working together with the Viva team and we look forward to seeing the momentum that Viva will gain with a greater footprint throughout Australia,” he said.
The transaction involved Gadens’ corporate practice group, with support from its real estate and construction and workplace advisory and disputes groups.
Other transactions
Earlier this year, Gadens advised software company Civica on the acquisition of LinkSafe, a contractor management specialist, and booka, a cloud-based facilities management solutions provider.
The team advising on both deals was led by Gadens partner James Beckley, with support from partner Dudley Kneller, senior associate Sinead Quigley, senior associate Eve Lillas, associate Nathan Koulouris, and lawyer Daniel Smith.
“It’s always a pleasure to work with the talented Civica deal team as they continue to add high-quality businesses to their growing local portfolio and prove why they deserve to be a global leader in public sector software solutions,” said Beckley.
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