Sport Alliance has named Erwin Korst vice president sales international. The appointment comes as the company announces US$100m of new funding from PSG Equity to drive growth.
This latest round of funding follows PSG’s initial investment of US$65m in August 2021, since which time Sport Alliance has more than doubled revenues through organic growth and four acquisitions.
Sport Alliance’s core product is Magicline management software. Customers include the RSG Group (McFit, John Reed, Gold’s Gym), Clever Fit and Bodystreet.
Magicline is currently used in 8,000 facilities, while 5.2 million gym members use the app solutions.
Kost and his team will be responsible for developing the enterprise business with a focus on English-speaking countries and customers.
Korst told HCM: “I'm proud and excited about Sport Alliance’s continuing growth journey and I look forward to working with this team.
"The recent infusion of a significant investment from PSG – amounting to a staggering US$100 million in funding – solidifies Sport Alliance's position and paves the way for unparalleled opportunities on an international scale. This strategic partnership will empower us to drive innovation, enhance our products and services and create a lasting impact."
CEO, Daniel Hanelt, said: “PSG’s investment encourages us to continue our success story in an international context. I’m looking forward to the exciting future that lies ahead of us."
"Since partnering with Sport Alliance just over two years ago, we’ve seen an incredible trajectory of success as the firm continues to expand its offering and support the digitisation of facilities across Europe,” said Edward Hughes, MD at PSG. “We’re delighted to be deepening our commitment.”
Magicline software was first launched in English in June 2021, when Sport Alliance had 4,200 locations and was moving to globalise via a introductory freemium model, as explained in this news story from HCM's sister magazine Fit Tech.
It's thought this venture in 2021 revealed the potential in the market, with the new US$100 million of funding and appointment of Korst designed to accelerate the process.
