Healthcare & Fitness
Apollo Takes Minority Stake in GoodLife Group to Accelerate Expansion
Apollo Global Management has agreed to acquire a minority stake in The GoodLife Group, valuing Canada’s largest fitness club operator at about C$2 billion. Announced on February 2, 2026, the transaction marks GoodLife’s first major outside equity investment. Founder David “Patch” Patchell-Evans will remain chairman and retain control. The investment is expected to support long-term expansion as fitness demand stabilises across Canada, subject to regulatory approvals and customary closing conditions.
Apollo Global Management has agreed to acquire a minority stake in The GoodLife Group, Canada’s largest fitness club operator, in a transaction valuing the company at about C$2 billion. Announced on February 2, 2026, the deal brings Apollo in as a strategic investor while founder David “Patch” Patchell-Evans remains chairman and retains control. The investment is expected to support GoodLife’s long-term expansion plans.
Minority investment with founder control intact
The investment will be made through funds and affiliates associated with Apollo’s hybrid capital strategies, which combine equity and debt instruments. While financial terms beyond valuation were not disclosed, the transaction represents GoodLife’s first major outside equity investment since its founding in 1979.
Patchell-Evans will continue to oversee the company’s strategic direction as chairman, maintaining a significant ownership position following the transaction. The company confirmed that its existing management team will remain in place.
Canada’s largest fitness club operator
Based in London, Ontario, The GoodLife Group operates more than 400 fitness clubs across Canada and serves approximately 1.5 million members. Its portfolio includes brands such as GoodLife Fitness, Fit4Less, GYMVMT, and Éconofitness, catering to a range of price points and customer segments.
GoodLife has expanded steadily over decades through a mix of organic growth and selective acquisitions, positioning itself as a dominant player in the Canadian fitness market.
The transaction reflects renewed investor interest in the fitness industry following several years of disruption caused by pandemic-related closures. Gym operators across North America have seen improved membership trends as consumers return to in-person fitness experiences.
For GoodLife, the minority investment provides additional capital to support growth initiatives while allowing the company to preserve its founder-led structure. For Apollo, the deal offers exposure to a market leader with stable cash flows and a nationwide footprint.
In a statement, Patchell-Evans said the investment would help the company build on its nearly 50-year history and support its next phase of development. Apollo, meanwhile, highlighted its experience partnering with founder-led businesses and supporting long-term value creation through flexible capital solutions
Neither company disclosed specific expansion targets or timelines.
Apollo’s growing presence in consumer services
Apollo Global Management is a U.S.-based alternative asset manager overseeing approximately $900 billion in assets. In recent years, the firm has increased its exposure to consumer-facing businesses through minority investments and hybrid capital structures rather than full buyouts.
The GoodLife transaction aligns with this strategy, allowing Apollo to invest alongside existing ownership while avoiding operational control.
The transaction remains subject to customary regulatory approvals and closing conditions. Once completed, GoodLife is expected to outline how the new capital will be deployed, though the company has not provided specific details.
Key Highlights
- Apollo is acquiring a minority stake in GoodLife Group at a C$2 billion valuation
- Founder David “Patch” Patchell-Evans remains chairman and controlling owner
- GoodLife operates 400+ clubs and serves around 1.5 million members in Canada
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