Totally plc acquires Energy Fit-Pro

LONDON, UK: Totally plc has acquired the entire issued share capital of Energy Fitness Professionals Limited (Energy Fit-Pro), a corporate fitness provider.

The total consideration payable for the Acquisition is up to £1.3 million in cash paid on a cash free and debt free basis, with a normalised level of working capital.

Energy Fit-Pro works with a growing number of high-profile organisations across the UK, including large corporates, central Government departments, universities, and colleges to provide workplace wellbeing and corporate fitness services. Energy Fit-Pro’s offering includes gym design and gym management, alongside digital services to support employee wellbeing in the workplace, focusing on physical and mental wellbeing. Energy Fit-Pro is owned equally by the two founders, Robert Radford and Alan Gallacher, who will continue to work in the business following the Acquisition.

The Consideration will be satisfied by the payment of £1.0 million in cash on completion, satisfied using existing cash resources of the Company, and up to £0.3 million in cash on a deferred basis based on the audited financial performance of Energy Fit-Pro for the financial year ending 31 March 2023.

The Board welcomes Energy Fit-Pro to the Group, bringing the opportunity to offer diversification across its existing contracts and enhance its services targeting workplace wellness, including physical and mental wellbeing services. The Acquisition also presents the opportunity for the Group to deliver enhanced digital services, which complement the existing service offerings of Totally and Energy Fit-Pro, by harnessing the technical capabilities in both businesses.

The Acquisition is one of a number of bolt-on businesses with which the Board is at an advanced stage of discussions.  The Board is keen to accelerate its buy and build strategy, utilising the substantial cash balances held by the Company, to strengthen its proposition and bring further earnings enhancing opportunities to the Group.

Wendy Lawrence, Chief Executive Officer of Totally, said: “We are thrilled to announce a new acquisition for Totally as we continue to deliver on our strategy and expand the Group. This acquisition creates exciting opportunities to transform the Group further by providing a new digital solution for many of our existing and planned new services. Totally will now be able to offer existing clinical, and physical and wellbeing services as part of a new digital offering to new and existing customers. 

“Energy Fit-Pro is a very well-regarded business and fits well with our commitment to delivering quality services that ensure people within the UK and Ireland have access to the care and support they need. By entering the corporate market through Energy Fit-Pro’s strong existing contract base, we can further support our traditional customers, such as the NHS, by providing solutions that keep the population physically and mentally healthy and avoid the need for in-hospital care where possible.

“We are excited by the opportunities that this acquisition offers in a growing market, as large employers take greater accountability for the health and wellbeing of their employees.

“We continue advanced discussions with a number of other bolt-on businesses to enhance and strengthen our proposition further. I look forward to updating the market in due course as we look to build upon Totally’s position as a leading provider of healthcare delivery across the UK and Ireland and expand further by offering workplace wellbeing solutions.”

www.totallyplc.com.