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Bidders line up with offers for Pure Gym

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Bidders have reportedly tabled offers for the UK’s biggest health and fitness group Pure Gym after the deadline closed on Thursday (21 September).

KKR is among a group of investors interested in what is believed to be “a £600m-plus [US$808.5m, €684m] auction” of the fitness chain, according to Sky News.

The potential sale of Pure Gym, which has 180 clubs nationwide, comes a year after the company abandoned an initial public offering (IPO).

In September 2016, Humphrey Cobbold, Pure Gym chief executive, said the operator was “ready to become a listed company” and that it would be using the IPO to raise £190m (US$237m, €220.6m). However, a month later Cobbold told Health Club Management that it had withdrawn its plans due to challenging market conditions.

The abandoned IPO cost the group £6.8m (US$8.48m, €7.9m).

US private equity firm CCMP Capital Advisors has been a controlling shareholder of the chain since 2013.

Pure Gym declined to comment.

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Bidders have reportedly tabled offers for the UK’s biggest health and fitness group Pure Gym after the deadline closed on Thursday (21 September).
HAF
Humphrey Cobbold is Pure Gym chief executive / Pure Gym
employer of choice
John Treharne, CEO, The Gym Group
Would you like to work for a gym operator that allows you to develop and use your skills to the full whilst being well rewarded? The Gym is totally committed to allowing 'the manager to manage' and rewarding our key personnel for delivery.