CVI has provided up to EUR 22 million in financing to support the expansion of Lemon Gym. This is one of the largest private debt transactions completed to date in the Baltic States.

Lemon Gym operates 33 fitness clubs across eight major cities in the Baltic States and has approximately 85,000 members. In 2025, the group generated revenue of EUR 26.7 million.

“People increasingly recognise that physical activity is not simply a short-term burst of motivation ahead of the summer season. It is a long-term investment in health, mobility, longevity and quality of life. This is precisely why we see significant growth potential in this sector” said Radoslav Tausinger, Partner at CVI.

“We are pleased to continue our partnership with Lemon Gym by providing the company with up to EUR 22 million in private debt financing. The transaction is fully aligned with our strategy of supporting leading mid-sized companies across Central and Eastern Europe. It also reflects our approach to providing flexible financing solutions that enable businesses to grow, strengthen their market position and drive market consolidation” said Artūras Vilkas, Head of Baltics at CVI.