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Total Fitness in management buyout
The management team of health club chain Total Fitness has acquired the group's UK and Irish businesses.
The deal, for an undisclosed sum, was backed by private equity from Barclays Ventures. Cash provided by the bank will also be made available to upgrade the chain's 24 sites as well as expand the portfolio.
Founded in 1996, with its first club in Castleknock, Dublin, the group currently operates three purpose-built clubs in Dublin and 21 across the North of England and Wales.
Situated in out-of-town locations, a typical Total Fitness club occupies up to 80,000sq ft with facilities including swimming pools, saunas, steam rooms, gyms, studios, cafes and retail outlets.
The group's membership base is close to 182,000 and it currently employs 870 staff.
<{P> Graham Hallworth, who led the buyout, has become executive chair of he group. He previously steered Crown Paints through its 2008 management buyout.Hallworth said: "This deal will enable us to focus on growing, developing and improving Total Fitness as a group.
"The past two years have been challenging for the leisure industry, but Total Fitness has continued to attract new members thanks to our strong brand, full service offering and competitive pricing structure.
"This new investment will now enable us to build on those strengths and grow our market share by implementing a long-term programme of strategic investment. Total Fitness has an extremely bright future ahead."
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