US platform Wellhub buys Urban Sports Club for $600 million

Berlin. The Berlin-based fitness startup Urban Sports Club (USC) has a new owner. The US platform Wellhub has acquired the company for approximately $600 million (currently around €511 million), both parties announced. The purchase has been completed, and approvals from all relevant antitrust authorities have been received, according to the company's statement. The acquisition was announced in the spring.

USC offers sports subscriptions that allow users in several European countries to access all participating sports facilities, such as fitness or yoga studios, swimming pools, or climbing halls. Instead of having a separate membership for each facility, users can log in using the USC app. The company was founded in late 2012 by entrepreneurs Moritz Kreppel and Benjamin Roth. The investment company Verdane has been one of its largest investors to date. ProSiebenSat.1 also participated.

Wellhub, on the other hand, focuses primarily on business with corporate clients. Companies can offer their employees exercise classes through the platform. According to Wellhub, it operates in 18 countries with around 18,000 corporate clients. With the acquisition of Urban Sports Club, the number of corporate clients is expected to more than double to 39,000.

The USC brand will initially be retained, and the company will continue to focus primarily on private customers, while Wellhub will stick to its current corporate customer strategy. The two founders, Kreppel and Roth, will remain on board as CEOs of USC, it was announced.

RND/dpa