Digme Fitness has acquired Another Space – the boutique studio arm of premium health club operator Third Space.
The deal includes the Another Space's two London sites in Covent Garden and Bank, increasing the number of studios in Digme's portfolio to eight.
Another Space was set up as a standalone boutique fitness concept by premium club operator Third Space in 2016. The two Another Space studios sat alongside – but independent from – the full-service Third Space clubs.
The Another Space studios offer three disciplines under one roof: yoga, boxing-based HIIT, and indoor cycling.
"We have always admired Another Space with its high-quality team, beautiful studios and prime locations," said Digme co-founder and CEO Geoff Bamber.
"We believe that this transaction will strongly benefit our existing community, with two new central London locations and more concepts to avail of, as well as benefiting the members of Another Space by giving them more opportunities to work out across London."
Colin Waggett, CEO of Third Space, added: “We're very happy to be handing over the reins of Another Space to Digme – a highly respected operator and one that shares many of the same values as we do."
The deal brings to an end Third Space's involvement in the premium, pay-per-class boutique sector.
Speaking to HCM in August 2018 (click here to read the full article)
, Colin Waggett, Third Space CEO said the launch of Another Space, in 2016, was part of a "constant push towards reinvention and redevelopment".
"If we look ahead to where we want to be in five or 10 years’ time, it isn’t about number of clubs – it’s about having a service proposition that stands clearly above the benchmark against which the market is judged," Waggett said at the time.