We advised the joint bookrunners on the IPO and São Paulo Stock Exchange listing

Davis Polk advised the joint bookrunners on the initial public offering of common shares of Smartfit Escola de Ginástica e Dança S.A. for an aggregate amount of approximately R$2.3 billion (approximately $450 million). The common shares trade on the São Paulo Stock Exchange. Common shares sold in the international offering were placed under Rule 144A and Regulation S.

Smartfit is the leader in the gym market in Latin America, operating the fourth-largest network of gyms in the world and the largest gym network outside the United States, each in terms of number of customers.

The Davis Polk corporate team included Manuel Garciadiaz and Lourenco Lopes-Sabino. The tax team included Kiara L. Rankin and Ben Levenback. Members of the Davis Polk team are based in the São Paulo and New York offices.