Simpson Thacher represented SmartFit Escola de Ginástica e Dança S.A. (“SmartFit”), Pátria Private Equity Co-Investimento SmartFit – Fundo de Investimento em Participações Multiestratégia and Pátria Private Equity Co-Investimento SmartFit Partners Fund – Fundo de Investimento em Participações Multiestratégia in connection with a secondary follow-on offering of 32,602,252 of common shares (the “Shares”).
The shares were offered to certain qualified institutional buyers under Rule 144A in the United States and to non-U.S. persons outside the United States in reliance upon Regulation S. SmartFit’s shares are traded on the B3 stock exchange under the ticker symbol “SMFT3.”
SmartFit gyms are the leader in the gym market in Latin America, with the fourth largest network of gyms in the world and the largest gym network outside the United States of America, in terms of number of customers. SmartFit is present in 14 countries throughout Latin America and is the market leader in Brazil, Mexico and in the region formed by Colombia, Chile and Peru in number of active customers.
The Simpson Thacher team included Grenfel S. Calheiros, Luiz Noronha, Raissa Fini, João Felipe Rocha and Julia Pinheiro (Capital Markets); and Jonathan Cantor and Scott Grundei (Tax).