all inclusive Fitness

NORD Holding has successfully established a Single-Asset Continuation Fund to support the long-term development of the all inclusive Fitness Group, Germany’s leading premium-value fitness platform. Closing is expected in Q1 2026 following the finalization of syndication.

The Continuation Fund will be anchored by Kline Hill Partners as Lead Investor, alongside a strategic syndicate of institutional investors. NORD Holding and the management team will remain significantly invested. The newly established fund provides additional growth capital that will significantly support the company’s continued expansion. Ares Credit funds, which have supported the company since 2021, will continue providing debt financing.

With more than 171 studios, approximately 650,000 members, and consistently strong operational performance, the all inclusive Fitness Group is one of the most dynamic and high-growth platforms in the German fitness market. The new ownership structure creates an excellent foundation to further accelerate the company’s long-term growth strategy, expand its footprint, and advance key operational initiatives. Strategic priorities include a targeted nationwide expansion based on regional clusters to maximize synergies and achieve the ambition of developing more than 250 studios in the coming years and consolidating long-term market leadership.

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“We greatly appreciate the trust placed in us by our new partners. Establishing this Continuation Fund enables us to continue the successful growth trajectory of the all inclusive Fitness Group and actively shape the next phase of its development.”

Rainer Effinger, Managing Partner, NORD Holding

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“We are excited to support the all inclusive Fitness Group on its continued growth path. The company combines an impressive track record with a strong management team and significant expansion potential. We look forward to working with NORD Holding on this compelling project.”

Elena Laleh, Managing Director, Kline Hill Partners

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The transaction for NORD Holding was executed by Rainer Effinger, Maximilian Frey, Moritz Stolp, and Niklas Thoma.

Rede Partners acted as exclusive financial adviser to NORD Holding.

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About the all inclusive Fitness Group

With 171 studios and over 650,000 members, all inclusive Fitness is one of the leading and fastest-growing fitness providers in the German premium-value segment. The group stands for a holistic fitness and wellness experience, state-of-the-art equipment, and an exceptionally attractive price-performance ratio. In February 2025, the former brands jumpers fitness and all inclusive Fitness as well as the BestFit Group were successfully integrated under the unified all inclusive Fitness brand. Since September 2025, the brand FIT STAR has also been part of the portfolio. Driven by a consistent buy-and-build strategy, operational excellence, and a clear site expansion logic, the all inclusive Fitness Group has become one of the most dynamic growth platforms in the German fitness market.

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About Kline Hill Partners

Founded in 2015, Kline Hill Partners is an investment firm focused on the private equity secondary market, with industry-leading capabilities in the small-deal space. With $6.1 billion in assets under management, Kline Hill’s funds are backed by a blue-chip investor base that includes endowments, foundations, family offices, and other institutional investors. Together, Kline Hill’s Core and Solutions strategies make up a platform designed to serve the entirety of the small-deal secondary market, with capabilities spanning LP fund transfers, GP-led transactions, and secondary direct transactions.

For more information, please visit: www.klinehill.com