Hussle, the leading UK employee fitness benefits provider, has been acquired by EGYM, the global fitness technology and corporate health innovation leader. By joining forces, Hussle is now part of the EGYM Wellpass corporate fitness network, a market leader in Europe’s booming fitness market.
Hussle partners with companies to enable them to offer their employees unlimited access to a network of up to 1,500+ gyms, pools, and spas via one discounted pass, covering 96% of UK postcode regions in England, Scotland, Wales and Northern Ireland. This is closely aligned with Wellpass’ vision: to provide all employees on the continent with qualified yet inexpensive products and services to keep fit and healthy in a seamless network of partner facilities. This close alignment made the recent acquisition an attractive move for EGYM.
EGYM CEO Philipp Roesch-Schlanderer remarks: “From our initial conversations, it was evident that Jamie Ward and Neil Harmsworth wanted to genuinely enhance an industry they’re passionate about when they founded Hussle 13 years ago. Their enduring entrepreneurial spirit, particularly evident during the pandemic, is commendable. Their track record in establishing an outstanding employee wellness company is truly inspiring. The NHS’s prioritization of prevention over repair provides significant opportunities. We wholeheartedly share this belief and are excited to begin this journey together.”
Jamie Ward, Hussle’s CEO, says: “From the moment I met Philipp and his team I knew that EGYM’s proposition was game changing. As I got to understand EGYM’s products better and listened to their vision I realised I was looking at the future and I wanted Hussle to be a part of it. We started Hussle back in 2011 to make fitness easily available to everyone. Our vision has always relied on a super strong fitness industry and the EGYM team shares that core belief. We’re delighted to help evolve EGYM’s vision into reality. We’re just getting started. There will be huge things to come.”
Neil Harmsworth, Hussle’s COO, adds: “This is a landmark deal for the UK employee benefits market and for the wider fitness industry. By combining the joint expertise of EGYM Wellpass and the Hussle team we can dramatically improve the range of inclusive, affordable, multi-venue wellness options available to employers across the UK.”
Wellpass managing director Nicolas Stadtelmeyer says: “We warmly welcome Jamie, Neil, and the entire Hussle team to EGYM. Our mission is to foster health and wellbeing in every workplace. With over 32 million employees and a €2.55 billion corporate wellness market, stepping into the UK market was a logical and strategic move. Following our entry into France, we now encompass the three largest European economies. The future holds great excitement for us.”
Dynamic market growth
The employee benefits arm of Hussle’s business grew by over 250% in 2023, and that trend is set to continue in 2024. Almost one million individuals in the UK have worked out using Hussle, enabling them to reap the benefits that fitness activities can have, both on physical and mental wellbeing. The United Kingdom corporate wellness market is expected to grow at a compound annual growth rate of 4.72%, thereby reaching a market size of nearly £3 billion (€3.4 billion) over the next five years.
Industry experts anticipate a robust global average annual growth rate of seven percent in the corporate wellness market until 2029, projecting it to exceed €73 billion. The demand is poised to escalate as an increasing number of businesses across all sectors initiate wellness programs for their employees. These workplace wellness initiatives not only enhance productivity but also curtail the expenses associated with sick leaves. Participation in fitness is also closely linked to increased chances of career success, enhanced cognitive function and greater levels of productivity at work. For these reasons, and more, companies should see employee fitness benefits not as a cost, but an investment.
How it works
Companies sign a framework agreement with Hussle or EGYM Wellpass and determine for themselves the personal contribution that their employees pay for participation. After registering, they have immediate access to currently around 14,500 exercise facilities in Germany, Austria, the UK, France, and Belgium and a constantly growing range of online courses. Usable tax benefits further reduce costs for employees. Thanks to this attractive offer, corporate fitness reaches particularly those people who were not previously active in sports. Therefore, it is not only the fitness clubs, the employees and the employers who benefit from the positive effect, but entire national economies.
The parties involved have agreed not to disclose the purchase price.
