The Aspasia Group acquires FiveStars

JANUARY 29, 2026

The Aspasia Group (Growth Partners Capital) acquires FiveStars

TARGET

FiveStars trains personal trainers, sports instructors, and sports nutrition professionals in Spain via face-to-face, online, and blended learning.

Ownership	Founder-owned
Headcount	11-50 FTEs
Headquarters	Málaga, Spain
Leadership	Rafael Romero, CEO and Founder Juan Salcedo, Business Director (Grupo Aspasia)
Sell-side advisor	—

ACQUIRER

The Aspasia Group

Spain's leading vocational and occupational training group offering over 1,500 courses across more than 70 centers nationwide.

Ownership	PE-backed
Parent	Growth Partners Capital
Investors	—
Headcount	251-500 FTEs
Headquarters	Valladolid, Spain
Buy-side advisor	—

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The Aspasia Group -> FiveStars  (2026-09-11)
add_on | Hospitality/Restaurants | announced
Target: FiveStars trains personal trainers, sports instructors, and sports nutrition professionals in Spain via face-to-face, online, and blended learning.
Website: fivestarsfitness.com | Buyer site: grupoaspasia.com
HQ: Málaga, Spain | Ownership: founder-owned | Buyer sponsor: Growth Partners Capital | Buyer ownership: pe-backed
Advisors - not yet credited
Source: Thematic - https://thematichq.com/software/d/the-aspasia-group-fivestars.html

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