The Odyssée Form chain of sports halls known under the Full Fitness brand raises 1.2 million euros from M Capital Partners.
Miguel and Christina Mestre faced a dilemma. At the head of two sports halls in the Toulouse region, they had the possibility of quickly creating 3 additional halls but did not have access to the necessary financing. Having identified PAX CORPORATE FINANCE as the investment bank specialising in sport, Mr Mestre therefore mandated the latter to raise the financing enabling them to link up the Toulouse region.
Indeed, Toulouse is an area with few fitness rooms compared to the rest of France. What’s more, the area is economically dynamic with a growing demographics of assets and therefore presents a great potential for a booming activity in France.
Everything went very fast for Odyssée, founded in 2012 by the Mestre couple. Coming from mass distribution, they wanted to adapt their know-how and methods to fitness. After obtaining the BPJEPS AGFF diploma, they created their first room in Cugnaux. Their concept is to offer for a reasonable price of 29,90€/month, a service adapted to sportsmen and beginners. Moreover, the emphasis is placed on personal coaching and follow-up so that members achieve their objectives.
In full growth, Odyssée realizes a turnover of 1 M€. In 2017, the couple will already have 5 theatres which will generate a turnover of €4.5 million at cruising speed. They will then be halfway to their target of 10 theatres by 2021.
According to Miguel Mestre: “The listening and the know-how of Pax Corporate Finance, and more especially of Mr Gane, enabled us to be understood quickly by M Capital Partners and to build with them our development. »
According to Pax CF “We are delighted to have helped management find the funds to accelerate their growth. The rigour and professionalism with which they manage their two rooms demonstrate that they have the skills to set up and manage an important network.