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Canadian fitness company The GoodLife Group has secured a minority investment led by U.S. firm Apollo Global Management Inc. with the goal of accelerating its growth plans.
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Talaal Azeem, a managing director at Apollo, said the investment will provide capital for GoodLife to advance the company’s long-term strategy.
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“This investment will bolster GoodLife as the leading fitness company in the country, and we could not ask for a better partner in Apollo,” Jeff van Haeren, chief executive of GoodLife Group, said in a press release. “Our incredible leadership team and employees across all our brands are ready for growth and excited about the next phase of our company.”
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The investment will be made through funds and affiliates of Apollo, the release said, and values GoodLife at around $2 billion, according to a report by Reuters.
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GoodLife, based in London, Ont., has 400 clubs and about 1.5 million members across Canada.
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The deal is subject to regulatory approvals and closing conditions.
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