King & Wood Mallesons (KWM) has advised Quadrant Private Equity on its acquisition of 24-hour low-cost gym operator Jetts Fitness.

The cross-practice KWM team was led by Partners Matthew Coull and Mark McNamara, supported by Senior Associate Anthony Boogert. Partner Yuen-Yee Cho advised on the debt aspects of the deal with Senior Associate Will Stawell and Partner Tim Sherman and Senior Associate Joseph Power provided tax advice.

This deal marks Quadrant’s second major investment in the sector following its acquisition of Goodlife Health Clubs from Ardent Leisure last month, on which KWM also advised.

Commenting on the deal, Matthew Coull said “We are very pleased to have once again supported our long-term client Quadrant on another significant transaction that will further expand and diversify its existing fitness and leisure portfolio. Australia’s fitness and leisure sector presents significant growth opportunities and this latest bolt on acquisition positions Quadrant as a key player in this market.”

KWM has supported Quadrant on a number of other high profile recent transactions including its acquisition of Urban Purveyor Group and Great Southern Rail.