Photosynth inc.
Acquisition of All Shares of GOODLIFE Co., Ltd. and GDS Co., Ltd.
Acquire all shares of staffed-store operators GOODLIFE and GDS and make them consolidated subsidiaries. Acquisition price is 560 million yen, funded entirely by bank borrowings; closing is scheduled for 2026-11-01. Executed as a 1st Party M&A meeting all three selection criteria, with an organizational structure that includes concurrent PMI leadership.
Key Figures
- Acquisition price: 560 million yen
- Target revenue (combined, both companies): 424 million yen
- EV/EBITDA: approx. 4.5x
AI要約
Overview of the M&A
As execution of the 1st Party M&A set forth in the mid-term management plan, we will acquire all shares of GOODLIFE and GDS, which operate semi-personal gyms, and make them consolidated subsidiaries. The acquisition price is 560 million yen, to be fully financed through bank borrowings. There will be no dilution from new share issuance. Closing is scheduled for 2026-11-01.
PMI and Key Points of the Business Model
We will introduce unmanned and labor-saving packages into staffed stores to drive core business synergies after group integration. We plan to validate a hybrid operating model combining Akerun, Migakun, and fixU at directly operated stores and then expand it horizontally to franchise stores. This deal is positioned as meeting all three selection criteria (appropriate valuation, manageable integration difficulty, and potential for unmanned/labor-saving measures).
Photosynth inc.
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