International Fitness operates fitness clubs in the province of Alberta under the World Health and Spa Lady brands.
North Castle managing partner Chip Baird said, “We continue to look for opportunities across the healthy, active and sustainable living markets to leverage our knowledge, network and experience in building market leaders like International Fitness.”
North Castle’s other recent exits include the sale of drinks container company Ignite Holdings to Newell Rubbermaid for $308m.
Ignite designs and sells drinks containers under the Contigo and Avex brands. The business expects to make $125m net sales in 2014.
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