Norwegian Investment Firm AWC Acquires Stake in Leading Baltic Sports Club Chain MyFitness

Tallinn, Estonia – AWC, an investment company owned by the Norwegian family office Awilhelmsen, has acquired a significant minority stake in My Fitness AS, becoming the largest single shareholder of the leading sports club chain in the Baltics. The financial details of the transaction have not been disclosed.

Strategic Investment for Expansion

The investment is expected to fuel further development and ambitious investment projects for MyFitness, according to Erkki Tornas, CEO and shareholder of My Fitness AS. “The addition of such a strong and experienced shareholder to the MyFitness ownership group gives us even greater confidence in both further development and the implementation of recent ambitious investment projects,” Tornas stated.

MyFitness’s Growth and Market Position

Currently, MyFitness manages 93 sports clubs across the Baltic States, operating under three different brands: MyFitness, Gym!, and Gym+. The company has already opened five new clubs this year and plans to open at least 20 more in the next 24 months. MyFitness serves over 265,000 active members and registered over 15 million visits to its clubs in 2025.

Expansion Beyond the Baltics

MyFitness is also planning to expand its operations beyond the Baltic States, with preparatory operate already underway. The group’s goal is to expand its range of services and promote a healthier, more active lifestyle among residents.

AWC’s Investment Philosophy

AWC is a long-term, flexible, and partnership-oriented investor that supports strong companies with long-term capital and helps management build sustainable and successful businesses. Awilhelmsen also fully owns Linstow, a leading real estate owner and developer operating in Norway and the Baltic States.

Philipp Hassemer, AWC’s investment director, commented, “MyFitness is a high-quality company with a strong brand and member-oriented culture. We are pleased to partner with the company’s management and existing shareholders to support the company’s long-term growth strategy. MyFitness has built an excellent platform and we glance forward to contributing to the next phase of development in the Baltics and beyond.”

MyFitness’s Historical Growth

Since 2013, MyFitness has grown from a network of eight clubs to nearly 100 clubs across the three Baltic States. The current main shareholders of My Fitness AS Estonia have not reduced their shares and continue to control more than half of the company.

Financial Performance

In 2025, the consolidated turnover of My Fitness AS reached 73 million euros, employing more than 1,200 people. [Baltic Times], [Made in Vilnius], [Dienas Bizness], [Sportas24]