Norwegian AWC acquires significant minority stake in MyFitness

TALLINN - AWC, an investment company owned by the Norwegian family firm Awilhelmsen, has acquired a significant minority stake in My Fitness AS, the largest sports club operator in the Baltics, becoming the company's largest single shareholder as a result of the transaction.

"The addition of such a strong and experienced shareholder to MyFitness’s ownership circle gives us even greater confidence for continued expansion and for planning and implementing new ambitious investments," said Erkki Torn, Chairman of the Board and a shareholder of My Fitness AS, emphasizing the importance of the transaction.

"We have now reached a stage where we operate 93 sports clubs in the Baltics under three different concepts. This year, we have already opened five, and we plan to open at least 20 more new sports clubs in the Baltics over the next 24 months. We have developed the fitness sector steadily and consistently; we have a strong platform, a good knowledge base, an excellent team, and over 265,000 members. Our vision for the coming years is to expand beyond the Baltics - work on this is already underway. The goal of the MyFitness chain has always been to enhance its range of services to motivate and guide people towards a healthier and more active lifestyle," Torn added.

Indrek Prants, a member of the MyFitness supervisory board and representative of the Estonian core shareholders, added that since 2013, when the current Estonian core owners joined the company, MyFitness has grown from a company with eight clubs to a sports club chain with nearly one hundred clubs across the Baltics, becoming the flagship of the region's fitness scene. "As a next step, our goal is to extend this pioneering role beyond the Baltic states," Prants added.

The existing Estonian core owners of My Fitness AS did not reduce their stakes and continue to control more than half of the company. Although AWC acquired a minority stake, the transaction made it the company's largest single shareholder.

AWC is a Norwegian investment company, wholly owned by the family business Awilhelmsen. AWC is a long-term, flexible, and collaboration-oriented investor that supports strong companies with permanent capital and helps management teams build resilient, market-leading businesses. Awilhelmsen is also the sole owner of Linstow, a leading real estate developer and owner operating in Norway and the Baltics.

"MyFitness is a high-quality company with a strong brand and a customer-centric culture. We are pleased to begin our collaboration with the management and existing shareholders to support the company's long-term growth strategy and look forward to contributing to the next phase of expansion both in the Baltics and beyond," added Philipp Hassemer, Head of Investments at AWC.

My Fitness AS is the largest sports club chain in the Baltics, founded in 2008. MyFitness has a total of 93 sports clubs in the three Baltic states under three different brands (MyFitness, Gym!, and Gym+), and its clubs serve over 265,000 members. In 2025, the clubs registered over 15 million visits. The consolidated turnover for My Fitness AS in 2025 was 73 million euros, and the company employs over 1,200 dedicated team members, 420 of whom are based in Estonia.

The parties have agreed not to disclose the details of the transaction.