DLA Piper is advising on the sale of Irish gym software company Glofox by founders Conor O’Loughlin, Anthony Kelly and Finn Hegarty and VC backers including Partech, Notion Capital, Octopus Ventures and Tribal.vc to US tech group ABC Fitness Solutions. The transaction is expected to close later this year.
Glofox was founded in Ireland in 2014 and is one of the fastest-growing fitness management platforms servicing the boutique gym and studio sector, serving over 80 countries and over 17 languages internationally. Their all-in-one business management platform helps fitness brands build their businesses.
Thoma Bravo-backed ABC Fitness Solutions offers gym management software solutions and services for the fitness industry, working with 20,000 clubs and facilities in 75 countries. Following their acquisition of Glofox, collectively they will support over 31 million members across more than 24,000 fitness locations.
DLA Piper acted as legal counsel to the sellers, with a team led out of the firm’s Dublin office by partner and Head of Corporate in Ireland Éanna Mellett with assistance from tax partner Declan Lavelle, corporate legal directors Micheál Mulvey and Steve Duggan and corporate associates Dara McDonald and Blayre McBride.
Commenting on the deal, Head of Corporate in Ireland Éanna Mellett said “Congratulations to the management on this latest milestone in the Glofox journey and to the exiting shareholders who backed the company and helped them to this point. It was great to work with such a dedicated and professional team on this transaction and we look forward to watching their continued success with ABC.”