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Renowned Bootstrapped Fitness Company For Sale

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Established, multi-division fitness company based in the UAE boasts impressive organic growth, fueled by a debt-free model and partnerships with prominent government and international hotel entities. The business is run independently from the owners by a General Manager who will continue to stay on after the sale.

Despite the challenges of the COVID-19 pandemic, the company saw revenue of $6.0m in 2022, with an EBITDA margin of 28%. By 2023, revenue increased to $7.4m (slightly exceeding budgeted numbers) with an EBITDA of $1.6m in 2023. The 2023 current level of EBITDA margin is unusually low because the company just went through a year of capacity growth and investment for one large project.

Note: (*) Both the revenue and the cash flow numbers are represented by the company's annualized run-rate revenue and EBITDA based on the 4Q23 P&L.

The company has achieved a long history of progressive expansion and delivering growth across multiple revenue streams. To date, the company has grown to 150 employees and more than 20 operational locations across UAE. Having multiple service offerings is beneficial because (a) it creates cross-sell opportunities and (b) attracts large organizations that want to offer a complete (rather than limited) set of services to their employees.

Revenue is projected to reach $11m in 2027E, with an EBITDA margin of 35%.

Reason For Sale: The owners intend to redirect their attention toward individual pursuits and explore new ventures (in which they are currently active
Training & Support: The owners are prepared to actively assist a new buyer in ensuring a cohesive transition period, streamlining the transfer of confidential information and tools.
Post-acquisition, the owners are amenable to providing support to the new owner for a duration of up to 12 months.

Competition: They face minimal direct competition in the specific domain of at-home fitness and swimming programs, positioning them as an industry leader.

Potential Growth: The UAE fitness market is experiencing explosive growth, and this company is positioned to capitalize on it. They boast an efficient scaling infrastructure across their diverse divisions and have identified potential acquisition targets ready for consolidation within the next two years.

The company's potential future roll-up strategy can create a large network, unleashing powerful network effects for its members. The management team is well-vetted in identifying acquisition targets, and it is willing to guide the new buyers to execute such an expansion strategy.