Major Company Acquires Urban Sports Club for a Billion-Dollar Sum
Urban Sports Club Acquired by Wellhub for €511 Million
In a significant move for the European fitness industry, Urban Sports Club (USC), a Berlin-based startup, has a new owner – Wellhub, an American platform. The acquisition, announced in the spring, was finalized recently for approximately €511 million ($600 million).
Founded at the end of 2012 by entrepreneurs Moritz Kreppel and Benjamin Roth, USC has been a popular choice for fitness enthusiasts across Europe. The startup offers sports subscriptions that grant users access to various sports facilities across several countries. These facilities include fitness or yoga studios, swimming or climbing halls, among others.
The acquisition is expected to significantly boost Wellhub's presence, increasing the number of corporate customers from around 18,000 in 18 countries to 39,000. Wellhub primarily operates in the business-to-business market, allowing companies to offer sports courses to their employees via its platform. The company will continue to focus on this strategy post-acquisition.
Despite the change in ownership, the USC brand will remain, and the founders Moritz Kreppel and Benjamin Roth will continue as CEOs of USC. They will oversee the company's continued focus on private customers, while Wellhub manages the corporate side of the business.
The largest investors in USC have been the investment company Verdane and ProSiebenSat1. However, the new main shareholder of the Berlin fitness startup was not disclosed in the search results. It is also unclear when the acquisition was completed, as specific details about the ownership or acquisition date of Urban Sports Club are not readily available.
With the acquisition now complete, Wellhub and USC are poised to make a significant impact on the European fitness market. Users of USC will continue to enjoy the convenience of not needing separate memberships for each facility, as they can use the USC app to access all participating facilities. This seamless experience, coupled with the expanded reach, promises an exciting future for both companies and their customers.
