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LA Fitness considering sale

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The chairman of LA Fitness, Peter Jacobs, has confirmed that the company is reviewing a number of serious expressions of interest for the company.

Towards the end of last year, the board announced that it felt there was likely to be consolidation in the health and fitness sector over the next few years. It subsequently appointed Close Brothers Corporate Finance as financial advisors to seek expressions of interest from a selection of potential investors.

The company has been pleasantly surprised with the outcome, said Jacobs. “We wanted to see if there was any appetite for shares in the business and have received a very positive response. We are taking the approaches seriously,” he said.

He claimed the approaches may or may not lead to an offer for the company and until that time chief executive Fred Turok and financial director Richard Taylor will run the business as usual.

“Due diligence will continue into the new year and we’ll just have to wait and see what happens,” sad Jacobs.

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The chairman of LA Fitness, Peter Jacobs, has confirmed that the company is reviewing a number of serious expressions of interest for the company.
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