AWC acquires a 22.2% stake in MyFitness

Ellex in Estonia advised Awilhelmsen Capital (AWC) on acquiring significant minority stake in My Fitness AS, the largest fitness club chain in the Baltic countries. Ellex team was led by Associate Partner Alla Kuznetsova.

AWC, a Norwegian family-owned investment company, acquired a 22.2% holding in MyFitness. According to CEO Erki Torn, several existing shareholders reduced their stakes as part of the transaction. The existing Estonian core shareholders did not divest their holdings and continue to collectively control more than half of the company. Although AWC acquired a minority interest, it has become the largest single shareholder. The parties do not disclose the transaction details.

MyFitness operates 93 sports clubs across Estonia, Latvia and Lithuania under three brands – MyFitness, Gym! and Gym+. The company welcomed more than 15 million club visits in 2025, has approximately 265,000 members and employs more than 1,200 people, including 420 in Estonia. In the coming years, the group aims to open at least 20 new clubs in the Baltics and is actively working on expansion beyond the region.

AWC is part of the Awilhelmsen Group, which also owns the real estate developer Linstow, active in Norway and the Baltics.