The Aspasia Group acquires FiveStars

● STRATEGIC | EDUCATION · Corporate & Workforce Training

JANUARY 29, 2026

The Aspasia Group (Growth Partners) 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 · Growth Partners Capital
Headcount	251-500 FTEs
Headquarters	Valladolid, Spain
Buy-side advisor	—

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The Aspasia Group -> FiveStars  (2026-09-18)
add_on | Education | 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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