In December 2020, U.S. investment firm Sixth Street Partners, in collaboration with its Spanish partner Ithaka, announced the acquisition of 100% of Duet Spa Sports. Founded in 2002, Duet Spa Sports specializes in promoting, managing, and operating municipal sports centers under concession agreements. At the time of the acquisition, the company operated ten centers across Catalonia, the Balearic Islands, and Madrid.
This transaction marked the culmination of Duet Sports’ owners’ divestment from the fitness sector over a two-year period. In 2019, they sold their low-cost division, Duet Fit, comprising 13 centers, to VivaGym Group for €37.7 million. The financial terms of the December 2020 sale were not disclosed.
Sixth Street Partners, founded in 2009, is a global investment firm managing over €47 billion in assets. Ithaka, established in 2014, focuses on investing in and managing concession and infrastructure assets. The two firms have been partners since 2015.
The new owners have committed to enhancing the company’s management by closely collaborating with the community, clients, and suppliers.
For more details, visit the original article at CMD Sport.