Norwegian family office Awilhelmsen’s investment company AWC AS acquired a 22.2% stake in My Fitness AS, the largest fitness club operator in the Baltics. As a result of the transaction, AWC became the company’s largest single shareholder.

My Fitness AS is the leading fitness club chain in the Baltics, operating across all three Baltic countries with a total of 93 clubs under three brands – MyFitness, Gym! and Gym+. The company has over 265,000 members, and its clubs were visited more than 15 million times in 2025. In the same year, the group’s consolidated revenue amounted to EUR 73 million, and the company employed more than 1,200 people.

As part of the transaction, several existing shareholders sold their stakes, while the Estonian core shareholders retained their holdings and continue to control more than half of the company.

The transaction is also significant in a broader context, demonstrating continued confidence of foreign investors in the Baltic market’s growth potential and the attractiveness of the local business environment.

TARK advised both the exiting shareholders and the company in the transaction. Our work included preparing and structuring the transaction, drafting and negotiating the transaction documentation, and advising on all legal aspects related to the completion of the transaction.

The transaction was advised by Tanel Tark, Marit Savi and Tarvi Salu.

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