AWC has acquired a significant minority stake in MyFitness
March 2026 — AWC AS, the investment company of the Norwegian family office Awilhelmsen, has acquired a 22.2% stake in MyFitness AS, the largest fitness club operator in the Baltics, becoming the MyFitness’ largest single shareholder.
Founded in 2008, MyFitness is the largest sports club chain in the Baltics. The company operates 93 fitness clubs across Estonia, Latvia and Lithuania under three brands, MyFitness, Gym! and Gym+, serving more than 265,000 members. In 2025, its clubs registered over 15 million visits. MyFitness generated revenues of US$84 million in 2025 and employs more than 1,200 people, including 420 based in Estonia.
AWC is a Norwegian investment company wholly owned by the family business Awilhelmsen. It is a long-term investor providing flexible capital and supporting management teams in building resilient, market-leading businesses. Awilhelmsen is also the sole owner of Linstow, a real estate developer and owner operating in Norway and the Baltics.
Our role in the transaction
Oaklins’ team in Estonia advised the sellers and management throughout the sale process, including valuation discussions and negotiations through to closing.
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