07/16/2021 | News release | Distributed by Public on 07/15/2021 21:23
Clifford Chance advises founders of fitness platform Sweat on sale to iFIT
Leading international law firm Clifford Chance has advised the founders of Sweat, a digital fitness app for women, on the sale of Sweat to iFIT Health & Fitness Inc, a global leader in connected fitness software, content and equipment. Sweat, which was co-founded by trainer Kayla Itsines and CEO Tobi Pearce in 2015, will remain a standalone brand as part of iFIT. Kayla and Tobi will continue to lead Sweat business in their existing roles, with the company remaining headquartered in Adelaide, Australia.
The Sweat platform is powered by a team of personal trainers and offers over 5,000 unique workouts across 26 exercise programmes ranging from high-intensity interval training and strength to yoga, barre and pilates.
Sydney partner Mark Currell led the deal, supported by senior associate Alice Bradshaw and graduate lawyer Evan Thomson. A cross-border team of experts in New York, London and Singapore also provided specialist advice on technology, data privacy, and mergers and acquisitions including partners Kevin Lehpamer and Sarah Jones, senior associates Sally Murphy and Jamie Andrew, associate Kevin Sheehy, and external consultant Luke Grubb.
Mark said, 'Kayla, Tobi, and the team at Sweat have built an incredible brand and a global community of fitness enthusiasts. The successful completion of this transaction further signifies the firm's cross border strength across critical areas in technology and corporate actions. We would like to congratulate them on their new journey to create a new world class fitness content and product experiences.'