California based Impex Fitness Inc has completed the acquisition of Yorkshire online fitness distributor Pure-tec Limited for an undisclosed sum.
The US firm was advised by Paul Berwin, head of Commercial and Digital at Harrogate and Leeds law firm Berwins and by Jonathan Davis and Martin Holden from the Harrogate office of UK accountancy firm Saffery Champness.
Impex Fitness, the company behind the Marcy brand, is the largest distributor of home strength training equipment in the USA and has been looking to expand into Europe for the past few years.
The acquisition supports 20 permanent jobs in the region and will create at least 25 further positions over the next 5 years, as the company grows and expands into continental Europe, the Middle East and India. Pure-tec is already working with Amazon, Tesco, Littlewoods and House of Fraser and with the support of its new international parent company is planning to add to that portfolio.
“Impex has been operating worldwide since 1982, but until now has not had a permanent base in Europe. The acquisition of Pure-tec is crucial to our international online development strategy, in which we can use our new Yorkshire base to springboard into France, Germany, Eastern Europe and eventually the Middle East and India,” said David Gilson, Vice President of European Operations for Impex Fitness.
Paul Berwin said, “It has been a pleasure working with Impex on this acquisition, and it being an online business, fitness related and Yorkshire-based ticked many of our boxes. I feel incredibly proud of my team in helping to secure substantial international investment, which will create many new and exciting opportunities for the region”.
Jonathan Davis said: “We were delighted to have been able to work with some of the region’s leading advisers on this deal which will support the future plans of both businesses and bring a welcome boost to the Yorkshire economy.”
The sellers of Pure-Tec were advised by John Flanagan of the Hull office of Rollits and Ian Lamb of Smailes Goldie accountants.