Alter Capital Desarrollo has acquired a majority stake in Wifit Gyms, raising its ownership to approximately 55% one year after first investing in the company. The deal marks a strategic move to scale the Spanish fitness chain across the Iberian Peninsula amid growing investor interest in the sector.

Wifit Gyms, founded by José Luis Torrecilla and Íñigo Moreno-Luque, has reached 9,000 subscribers within its first year of operations. The founders will retain minority stakes in the business. The company currently operates five gyms, most in Madrid, and plans to open a new location in the Chamberí district, with four additional openings expected by 2026.

The new capital will support Wifit’s expansion in a market that has attracted significant private equity interest. Recent transactions include Portobello’s investment in Sidecu, Formentor Capital in BeOne, Seas Capital in Synergym, and Torreal in GoFit. Torrecilla and Moreno-Luque previously sold their first venture, IFitness, to Altafit – then backed by MCH Private Equity and now part of Providence Equity Partners.

Alter Capital’s investment strategy includes both majority and minority holdings. With offices in Seville and Madrid, the firm has also backed businesses such as cosmetics and supplements maker Trending Corporate, education platform Wuolah, glamping brand Kampaoh, and renewable energy company Dawn Energy.

Although Alter Capital traditionally invests up to €10m per deal, it now has access to larger transactions of up to €35m through a managed account with a pan-European fund.

This acquisition positions Alter Capital to capitalise on ongoing consolidation in Spain’s fitness industry, supporting the emergence of a new wave of national leaders.

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