Oakley-backed 7NXT picks up online fitness platform Buddyfit | PE Hub

• 7NXT is the owner and operator of Gymondo and 7Mind
• The acquisition bolsters the subscriber base of the 7NXT companies to over 800,000
• Buddyfit is based in Genoa, Italy

Oakley Capital portfolio company 7NXT will acquire Buddyfit, an online fitness platform in Italy and Spain.

Genoa, Italy-based Buddyfit provides online fitness classes, mindfulness sessions, live workouts and nutrition plans to a paying subscriber base of around 100k.

7NXT is the owner and operator of Gymondo and 7Mind. Oakley invested in Gymondo in 2020. 7NXT acquired 7Mind in 2023.

Buddyfit’s addition positions Gymondo as a European consolidator platform in the fitness and wellbeing market, which is estimated to be worth over €3 billion across the core addressable markets of Germany, Italy and Spain by 2027, according to a release.

The acquisition bolsters the subscriber base of the 7NXT companies to over 800,000.

“This is another transformational deal for Gymondo, expanding its reach further across Europe,” said Peter Dubens, Oakley Capital founder and managing partner, in a statement. “It follows a year of consistently strong subscriber growth achieved with prudent customer acquisition costs. Organic growth alongside M&A will help Gymondo deliver on its strategic goal of becoming the Continent’s leading fitness and wellbeing platform, helping countless users lead healthier lives.”

Oakley is a private equity firm with offices in London, Munich, Milan and Madrid. It has around €11 billion in assets under management.