US private equity firm KSL Capital Partners has acquired the UK-based Village Urban Resorts from De Vere Group for a figure reported to be around £480m.

The 25-strong Village Urban chain features a mid-market Velocity Health and Fitness Club in each of its locations. Velocity clubs feature extensive fitness facilities, a pool, spa, MyZone heart rate tracking technology and free group exercise classes.

KSL is focused on investing in travel and leisure businesses and was reported to be mulling a bid for the David Lloyd health club estate in 2013, although that deal was eventually sealed by equity firm TDR Capital.

KSL has committed to growing the Village Urban business by both reinvigorating the existing portfolio and expanding into new markets. Three new locations are scheduled to open shortly in Aberdeen, Glasgow and Edinburgh, with each set to feature a Velocity health club.

“Village occupies a unique position in the UK market because of all it has to offer consumers,” said Coley Brenan, a principal at KSL.

“With a very strong following and thousands of loyal members, we believe Village has tremendous potential for future growth. We are very pleased to add Village to KSL’s portfolio of investments in the UK.”

Gary Davis, former CEO of Malmaison and Hotel du Vin – which KSL also owns along with the Belfry golf complex – will head up Village Urban as part of the new deal.

Leisure Opportunities understands that Village Urban Resorts employees have been asked to refrain from commenting on the deal at this stage.