Sport Alliance, the Hamburg-Based Provider of Gym and Fitness Suite Software Solutions, Announces Further Growth Investment from PSG, with New Commitments Totaling $100m
New funding follows PSG’s initial $65 million investment in Sport Alliance, announced in August 2021
Hamburg – November 27, 2023 – Sport Alliance, a Hamburg-based provider of innovative software solutions and services to gyms and fitness suites, today announces a further growth investment from PSG Equity (“PSG”), a leading growth equity firm partnering with software and technology-enabled services companies to help accelerate their international growth. PSG committed an additional $100m as part of the transaction. Additional financial terms were not disclosed.
Sport Alliance’s objective is to take the sports and fitness training industry to a new level with cloud-based and digital software solutions. The company counts more than 8,000 sports and health facilities among its customers and offers innovative all-in-one software and services for fitness chains, franchise systems and independent fitness suites.
With its product portfolio currently available across Europe, Sport Alliance enables efficient gym management and easy, digital access to sport and exercise for members in sports facilities. Over 5.2 million gym members use the app solutions provided by Sport Alliance to gain simple and digital access to the fitness industry.
Sport Alliance's core product is the ‘Magicline’ management software. It is one of the market leading Enterprise Resource Planning (ERP) software systems in the fitness industry in German-speaking countries, and with its integrated core brands for financial services and member apps, Magicline has become the go-to solution for many sports providers over the years. Some of its most renowned customers include the RSG Group (McFit, John Reed, Gold's Gym), clever fit and Bodystreet.
PSG previously led a $65 million strategic growth investment in Sport Alliance, announced in August 2021. Since PSG’s initial investment, Sport Alliance has more than doubled revenues through a combination of organic growth and four add-on acquisitions, with the team expanding to 350 employees across the group.
"I am incredibly proud of the great performance of the team at Sport Alliance and very pleased about the trust that PSG has in us. It proves once again that our products and services offer exactly the solutions that the market needs and that we are making an important contribution to the digitalization of the fitness industry," says Daniel Hanelt, CEO of Sport Alliance. "PSG's investment once again encourages us to continue our success story beyond the German-speaking region in an international context. I am looking forward to the exciting future that lies ahead of us."
“Since partnering with Sport Alliance just over two years ago, we’ve seen an incredible trajectory of success as the firm continues to expand its offering and support the digitization of sports facilities across Europe,” said Edward Hughes, Managing Director at PSG. “We’re delighted to be deepening our commitment to Sport Alliance and look forward to seeing what the incredible team achieves next.”
About Sport Alliance
Sport Alliance, headquartered in Hamburg, specializes in software solutions for efficient studio management and financial services in the fitness industry. The company group counts over 8,000 clients, including FitX, RSG Group (McFIT, Gold’s Gym, John Reed), clever fit and Bodystreet.
With Magicline, Sport Alliance offers one of Europe’s leading membership management ERP solutions for the fitness market and thus supports fitness studio operators in optimizing and digitizing their facilities. Alongside Magicline, the company’s portfolio includes Finion - consisting of Finion Capital and Finion FairPay - a financial service provider that supports managing member fees and debt collection.
More information about the company is available on the website: www.sportalliance.com.
About PSG
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 130 companies and facilitated over 460 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Madrid, Paris and Tel Aviv. To learn more about PSG, visit www.psgequity.com.