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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
Functional
Having good functional fitness is a lifetime requirement. We speak to operators taking functional fitness back to its roots to aid rehabilitation
Features
ukactive
The sector’s challenge is to focus its collective efforts on the pillars of public life, delivering a beneficial impact for children and young adults, workers and older people, says Steven Ward
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Cycling
What does the big data around group cycling show? What’s hot, who’s most engaged and what’s up and coming for the year ahead?
Features
Research
Leisure-net’s annual Health and Fitness Omnibus Survey (HAFOS) is now in its 15th year. We talk to Leisure-net’s Mike Hill about what’s changed, and what hasn’t, since 2002
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Research
The fitness industry in China is growing fast according to The IHRSA Greater China Health Club Report, produced in November 2018 in collaboration with Deloitte China. Kristen Walsh reports
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Getting retention right is the key to success in gyms with memberships. Paul Bedford has turned retention into a science. We share case studies and top tips from the latest retention research
Features
Group Exercise
We look at the current group exercise landscape and ask what’s likely to be trending in the year ahead, as well as tactics club operators can use to improve their results
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Conference Report
The recent Power Plate RISE event (Retention, Insights, Solutions, Engagement) brought together research, expertise and practical solutions, supported by industry speakers Dr Paul Bedford, retention specialist and David Minton, CEO of The Leisure Database Company (TLDC)
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EHFF 2019
The sixth European Health & Fitness Forum (EHFF), will take place on 3 April 2019 in Cologne, Germany, the day before the start of FIBO. HCM gives a sneak preview
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People
We can open all over the US. In fact, some of our best CycleBar studios are being opened in the middle of nowhere, like in Louisville, Kentucky. There’s no SoulCycle in Kentucky, I can guarantee that
People
We help people break bad habits and change their lifestyles for better health. By monitoring our members’ progress and keeping in touch via our app, we guarantee results
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The amount of change in just the past five years has been enormous. The make up of the top 10 brands is unrecognisable: some of those who considered themselves the market leaders are now gone, replaced by challengers
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In every class, we invite participants to unleash their inner rockstars, let themselves go and rock out with a community of like-minded friends. They can healthily release their aggression and feel a sense of freedom
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This type of studio was unusual for Cornwall at the time and introduced concepts which were new to many people, including online booking and the first hot yoga studio on the county’s north coast
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It would be suicidal to start from scratch today, in this hyper-competitive industry, but back in 1985, people flocked to us. All we heard was: ‘A health club? Oh my gosh, what’s that?
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A couple of years ago, I attended a women’s leadership summit at IHRSA. I really enjoyed being in a room with female business leaders and left inspired to do more of that kind of activity, but couldn’t find an outlet
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I don’t think there’s a better way to shred fat and build definition than via group exercise kickboxing/boxing and more importantly, it’s flat-out super fun
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The new FIBO CAMPUS will have 13 themed sessions, ranging from fitness and health through personnel management to digitisation, offering a line-up for visitors – be they gym operators, physiotherapists or trainers
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Promotional Feature
Promotional feature
The CEO & founder of Barcelona Bootcamp talks to HCM about the growth of his luxury fitness holidays in Spain and his plans to expand the five-star experience across Europe
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Featured supplier news
Featured supplier: Dave Wright introduces Myzone's MZ-Motion
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Featured supplier news
Featured supplier: Barcelona Bootcamp to launch corporate preferred rates for company retreats
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Company profiles
Company profile: DFC
DFC
At DFC, we offer totally transparent revenue management solutions, with clear pricing and no hidden ...
Company profiles
Company profile: Xn Leisure Systems Ltd
Delivering exceptional service, attracting new members and building a network of loyal repeat customers – ...
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Kemitron GmbH: Hydrotherapy / spa fragrances
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International SPA Association - iSPA: Trade associations
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Move GB: Member access schemes
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Lightmasters UK Ltd: Audio visual
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Fitlockers: Lockers/interior design
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EXF Fitness Equipment: Exercise equipment
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Zynk Design Consultants: Architects/designers
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Total Vibration Solutions Ltd: Flooring
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Huddersfield
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Wirral Borough Council
Property & Tenders
Diary dates
27-28 Mar 2019
Eastwood Hall, Nottingham, United Kingdom
Diary dates
24-25 Apr 2019
Business Design Centre, London, United Kingdom
Diary dates
Elevate Arena
Elevate Arena