Pure Gym to be acquired by Leonard Green & Partners

Pure Gym Ltd (“Pure Gym”) and Leonard Green & Partners, L.P. (“LGP”) announced that they have entered into a binding agreement under which affiliates of LGP, a leading US buyout firm, will acquire a controlling interest in Pure Gym, the UK’s largest gym operator. LGP will replace current majority shareholder, funds affiliated with CCMP Capital Advisors, LP (“CCMP”), who bought a majority stake in the business in May 2013 and will no longer retain an interest in the business on completion. The transaction is timetabled to complete at the end of November.

Pure Gym is the UK's leading gym operator providing low-cost and high-quality fitness facilities for more than 950,000 members spread across 189 sites. Pure Gym was launched in 2009 and pioneered the model for affordable fitness clubs in the UK.

Humphrey Cobbold, Chief Executive of Pure Gym, said: "We are absolutely delighted to be entering into a new partnership with Leonard Green & Partners, whose investment confirms the growth potential of our business. They have some big brands in their portfolio and an excellent track record of investing in the leisure and fitness industry. The management team and I look forward to working with LGP to continue our momentum and to keep offering affordable, flexible and high-quality gyms to our members across the UK."

Kris Galashan, Partner at LGP, said: "Over the years we have made numerous investments in the gym and fitness arena and we are very excited to be extending our involvement in the industry through this investment in Pure Gym. We have been incredibly impressed by the business that Humphrey and the team at Pure Gym have built over the last few years and believe that the business has tremendous potential for the future."

Quelle: Pure Gym
Bildmaterial: Pure Gym

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