Our specialist advisors for the sale of technology companies have advised FSF World Group (FiveStars Fitness), one of Spain's leading fitness and sports training companies, on its acquisition by Grupo Aspasia.
The transaction marks Grupo Aspasia's entry into the fitness and sports training segment, strengthening its position in the field of professional training and expanding its educational offering into a market that is clearly expanding and becoming increasingly professionalised.
Target: FSF World Group (FiveStars Fitness)
Leading fitness training company in Spain
FSF World Group (FiveStars Fitness) has established itself as one of the most recognised companies in the specialised fitness trainingsector. The company focuses on training personal trainers, instructors, sports technicians and professionals in the sector through face-to-face, online and blended learning models.
Throughout its history, FiveStars Fitness has stood out for the quality of its educational programmes, its close collaboration with sports centres and professionals in the sector, and its ability to adapt to new market demands. Thousands of professionals have been trained by the company, contributing decisively to the professionalisation of the fitness sector in Spain.
After 14 years building Fivestars, finding the right partner to take the next leap was essential. In Grupo Aspasia, we have found a partner that understands training, respects our way of doing things, and that gives us muscle in technology, marketing and scalability. Our students and our team are going to notice the difference
Rafael Romero, Chief Executive Officer and Founder of FiveStars
Investor: Grupo Aspasia
Strengthens its growth and diversification strategy
Grupo Aspasia is one of Spain's leading educational groups, specialising in vocational training, employment training and continuing education, with a range of courses aimed at improving employability and developing professional skills.
The acquisition of FSF World Group allows Grupo Aspasia to diversify its educational portfolio and enter the fitness and sports training segment with a well-established brand that enjoys strong market recognition. This integration reinforces the group's growth strategy, combining its operational capacity and national reach with FiveStars Fitness's sector knowledge and positioning.
Fivestars is not just another acquisition: it is exactly the type of project we were looking for. A brand with history, a very loyal community of students and a mature digital model. The fitness sector is undergoing rapid professionalisation and we want to lead that transformation. Fivestars will retain its identity and team, but will now have the resources of a group with a turnover of more than €50 million and which trains 120,000 people a year.
Juan Salcedo, Chief Business Officer of the Aspasia Group
Baker Tilly Tech M&A, exclusive financial adviser to the transaction
Baker Tilly has acted as exclusive financial adviser to FSF World Group and its shareholders in the sale process with Grupo Aspasia. The transaction was led by Diego Gutiérreza partner specialising in the sector.
Baker Tilly's Tech M&A Advisory division has consistently ranked among the best in the mid-market and small-market Tech/TMT sector in Iberia, advising on complex transactions both nationally and internationally.
Baker Tilly International provides corporate finance and cross-border transaction advisory services, supporting clients operating in multiple geographies. Baker Tilly's international network is present in more than 147 territories, with over 50,000 professionals in more than 750 offices worldwide.
Baker Tilly International is a global network of professional services specialising in advisory, consulting, auditing, tax and legal services, as well as accounting, labour and management services, aimed at both SMEs and large multinationals.
