After just over a month of waiting, the Spanish startup Volava, considered the Spanish Peloton, has managed to close the sale of its production unit to Mad Dogg Athletics, the American fitness giant, whose owner,John Robert Baudhuinis one of the creators of the spinning, just as EL MUNDO announced.
The Spanish company became especially popular in the pandemic with its stationary bicycle service and online classes, which it subsequently expanded to other verticals. However, the end of the confinements and the rise in rates made the business’s progress difficult, which slowed its growth in 2022 and collapsed in 2023, to the point that the company was forced to enter bankruptcy in July.
The buyer ensures the continuity of service for customers, as well as the jobs of 12 of the staff’s employees., which was around 20 people. “The choice of Mad Dogg Athletics has been made with care to ensure that the production unit, which has always stood out for offering high-quality technologically advanced training experiences, has the opportunity to continue existing, even if under another mantle. The preservation of jobs, the continuity of operations in Barcelona and the non-interruption of customer service have been the fundamental pillars in this process,” the company says in a statement, once the operation has been closed, advised by AGM Lawyers.
Among the main ‘losers’ of the process are the company’s shareholders, including Ana Roigowner of almost half of the shares and the asset manager Inveready, which had around 22%. Among the shareholders, there was also Telefónicawhich had 1.67% of the capital and several loans totaling more than 100,000 euros.