Investment date: September 2006
Industry: Consumer Markets
Fund: Fund IV
Exit Date: June 2011
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Through a series of initiatives and add-on acquisitions, ELIXIA grew to become the largest and most profitable operator of fitness clubs in Norway and Finland. At the time of Norvestor’s 2006 investment, the Nordic fitness and wellbeing industry promised resilient, strong growth as awareness of exercise and a healthy lifestyle was on the rise. During Norvestor’s ownership ELIXIA expand and enhanced its service offerings, including the introduction of personal trainers. ELIXIA offered upscale clubs with high membership satisfaction rates. At the time of Norvetsor’s exit, the company owned 47 fitness clubs, with a particularly strong presence in Oslo, Helsinki and Stavanger.