Les Mills
Les Mills
Les Mills
Health Club Management

Health Club Management

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UNITING THE WORLD OF FITNESS
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Health Club Management

Health Club Management

News

US-chain Life Time Fitness sold in US$4bn deal

US gym chain Life Time Fitness is set to become a private company in a deal valued at more than US$4bn (€3.8bn, £2.7bn).

The company announced on Monday (16 March) that it will be sold to private equity firms Leonard Green & Partners and TPG, with the transaction expected to be concluded in Q3 2015. The private equity firms will pay $72.10 (€67.97, £48.83) for each share of Life Time Fitness, a 7.3 per cent premium from its close of $67.20 (€63.35, £45.51) on Friday (13 March).

Following news of the deal, Life Time Fitness shares rose $3.48 (€3.28, £2.36), or 5.2 per cent, to close yesterday at $70.68 (€66.63, £47.87). The merger is subject to approval from Life Time’s shareholders and other customary closing conditions.

“Following a comprehensive review by Life Time’s board of directors of strategic alternatives to enhance shareholder value, we are pleased to have reached this agreement, which provides our shareholders with immediate and substantial cash value representing a significant premium to our unaffected share price,” said CEO Bahram Akradi, who is to remain in his role following the deal.

“There are no words to describe my gratitude for the confidence and significant commitment Leonard Green & Partners, TPG and LNK Partners have made to Life Time and our management team.”

Currently operating 114 gyms across the US and Canada, Life Time Fitness offers fitness classes, spa amenities, personal training and other services in its sites. The Chanhassen, Minnesota-based business also sells a line of nutritional products, publishes Experience Life magazine and runs a unit that holds running, cycling and triathlon events.

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US gym chain Life Time Fitness is set to become a private company in a deal valued at more than US$4bn (€3.8bn, £2.7bn).
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News

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Features
Statistics
While Sweden (21.6 per cent) and Norway (21.4 per cent) have the highest ratios of fitness club members relative to the total population, Ukraine (2.9 per cent) and Turkey (2.6 per cent) have low penetration rates, which could indicate potential for growth
Features
HCM Celebs
In the name of work, Australian actor Chris Hemsworth has undergone impressive physical transformations for film roles such as Thor in The Avengers and Marvel films. Inspired by the public’s interest in his workouts, he’s now created a health and fitness app called Centr that utilises the expertise of his team of world-class experts
Features
Flooring
With the increase in popularity of functional training, the floor is increasingly becoming a piece of equipment in itself. Kath Hudson investigates
Features
Retention
Are you optimising HIIT for your members, or are they put off by the pain? Abigail Harris looks at research into ways to better support members towards a positive outcome
Features
Retention
There’s no one thing that will fix your member retention, but clarity of mission, a strong culture and an eye for data will drive significant change. Kate Cracknell reports from this year’s Retention Convention
Features
Innovation
Silicon Valley hacker Dave Asprey used his tech skills to gather the latest fitness kit to create a bio hacking boutique. Kath Hudson investigates cusapero
Features
Active ageing
The older people get, the more likely they are to have a long term health condition. But getting ill is not an inevitable consequence of getting older, so targeting the over 50s market could bring about multiple wins. Kath Hudson reports
Features
Research
New research from Deloitte China and IHRSA shows the market for health and fitness in India is starting to grow, as Kirsten Walsh reports
Features
Software
New technology is transforming the way the health and fitness industry functions and interacts with customers. Liz Terry catches up with operators around the industry for an update
Features
Strength
Do you need strength training kit that fits a smaller space? Julie Fisher takes a look at the options
Features
Analysis
Features
People
With two instructors per class – one devoted to correcting form – we fix people, and this creates clients for life
People
As clubs with swimming pools and health and beauty facilities, the low cost model wasn’t going to work for us, but the clubs weren’t as high-end as David Lloyd clubs either. Our first intervention was to win over the staff and encourage them to act as though it was a high-end club
People
We want to develop the next generation of health and wellbeing centres, offering a mix of clinical, physical and emotional wellbeing services
People
Much of the fitness industry branding is based on a no pain, no gain philosophy, but we didn’t want to present Rabble like that, even though a session is ridiculously tiring!
People
I used to ask the Department of Health why it would throw billons into smoking cessation but not physical activity. Because actually, if you put people on a smoking cessation course, their chances of completing it are much higher if they’re physically active before they start
People
Ceilidh dancing is great; it’s full of fun and energy and after a night of it you leave happy, smiling and sweating
People
I wanted to create a gym that was good enough for Anthony Joshua – that was the benchmark
People
Technogym has helped us ensure that every facility has the same selection of equipment. It’s part of the commitment we’ve made to deliver a top quality service for every community
People
We noticed this gap in the UK market for a complete workout that invigorates the body while impacting the mind
People
Promotional Feature
Promotional feature
These new products offer the market a complete indoor cycling solution. We have indoor bikes that cover both home and commercial fitness sectors, and user groups from general health and fitness, to elite sport - Richard Baker, CEO, Wattbike
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Featured supplier news
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Opinion
promotion
Member retention is a growing problem for long-established gym chains, who are battling the growing budget and boutique gym market.
Opinion: Are you trying to beat budget gyms at their own game?
Company profiles
Company profile: Octane Fitness
A global innovator of high-performance fitness equipment, Octane Fitness, a Nautilus, Inc. brand, continually redefines ...
Company profiles
Company profile: The JC Group
The JC Group is home to JC Facilities Management, JC Leisure Solutions, JC Water Services, ...
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Ojmar: Locking solutions
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Move GB: Member access schemes
Flooring
Total Vibration Solutions Ltd: Flooring
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Matrix Fitness: Exercise equipment
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Debit Finance Collections: Direct debit solutions
Skincare
Sothys: Skincare
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Kemitron GmbH: Hydrotherapy / spa fragrances
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Deloitte UK: Professional services
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GymSales: Management software
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International SPA Association - iSPA: Trade associations
Property & Tenders
Will to Win
Property & Tenders
Savills
Property & Tenders
Diary dates
06-07 Jul 2019
Monte-Carlo, Monaco
Diary dates
23-25 Jul 2019
Melbourne Convention and Exhibition Centre, Melbourne, Australia
Diary dates
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Les Mills
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