Ultimate Performance, an upmarket health and fitness platform, has struck a deal to fuel its expansion by selling a stake to Inflexion, the private equity firm.
Sky News understands that the Manchester-based personal wellbeing business, which was founded in 2009, has agreed a transaction after weeks of talks.
Ultimate Performance delivers personalised training and nutrition programmes to its clients across 24 sites.
Founded by Nick Mitchell, it employs 450 people, including 350 personal trainers, in the UK, US, Middle East, Asia and Australia.
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Inflexion, which is an investor in Goals Soccer Centres and Virgin Experience Days, is backing the Ultimate Performance management team, which is led by Steve Brice, who is stepping up to become group chief executive.
Simon McMurtrie, former chairman of Virgin Experience Days, will become chairman.
The private equity firm is said to be buying out a number of existing investors, although neither the size of its stake nor the company's valuation were clear on Monday.
"Ultimate Performance is committed to changing the way our clients live," Mr Brice said in response to an enquiry from Sky News.
"We are excited to be partnering with Inflexion to continue the growth of the business and in particular build its global presence."
Ultimate Performance was advised by PricewaterhouseCoopers, while Houlihan Lokey advised Inflexion.
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