Former Fitness First chief Colin Waggett has been named CEO of the as-yet-unnamed portfolio of high-end London health clubs owned by private investment firm Encore Capital.

Encore recently acquired the Third Space group – whose Soho and Marylebone clubs boast a range of celebrity members – as well as the Tower Bridge 37 Degrees health club for an undisclosed fee. These recent acquisitions, together with Encore’s ownership of the Reebok Sports Club in Canary Wharf underline its ambitious growth plans in the health and fitness sector.

Waggett, who made his name at Fitness First and then went on to launch Psycle, was unveiled to staff on Monday (11 May) and will now set about strategising and formulating the brand proposition. Further announcements are expected in the autumn with regards to the gym group's name and plans for growth.

“Our aspiration is to be the premium lifestyle club offering in London, serving the fitness savvy fashion conscious Londoner who also appreciates the very best quality in service, and interesting and innovative experiences,” Waggett told Health Club Management.

“I firmly believe there is a gap at the quality end of the market that we are perfectly set up to fill. We are immediately pressing on with a £3m club investment program at Tower Bridge, following on from the £6m invested in Canary Wharf last year, which is reflective of the aspirations of the owners to really make sure each and every club is of a truly outstanding quality.”

To read an exclusive interview with Encore Capital partner Shirin Gandhi, from the February 2015 edition of Health Club Management, click here.