Candover acquires minority stake in Technogym

The investment is the tenth to be made from the Candover 2005 Fund, which closed in November 2005, on €3.5bn.

Technogym, founded in 1983, serves major US and European fitness club chains and is developing relationships in Asia and the Middle East. The company is the official provider of training equipment at the 2008 Olympic Games in Beijing. In 2007, it generated a turnover of €385m, according to a statement.

Aldo Maccari, director and head of Candover Italy, said, 'We are delighted to be partnering with Nerio Alessandri and his team who have already built up an exceptional business and a premium brand.

'As the problem of world obesity increases and governments move from a treatment to a prevention model, health and exercise are becoming a critical focus of the modern world,' he added.

Other investments from the Candover 2005 Fund include the €1.6bn buy-out of Stork, the buy-out of Alma Consulting, the €415m buy-out of Capital Safety Group, the buy-out of Parques Reunidos, the buy-out of Ferretti, the €1bn acquisition of Hilding Anders, the €682m acquisition of DX Services, the €450m buy-out of UPC Norway and the €480m buy-out of EurotaxGlass's Group.

Copyright © 2008 AltAssets