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Technogym
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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

Exclusive: Xercise4Less deal to be completed when gyms open

Budget fitness chain, Xercise4Less, will have a new ownership structure and financing set-up by the time the UK's gyms are allowed to open their doors to customers.

The chain, which operates 51 gyms across the UK, was put up for sale in May 2020 by its current investors, directors and shareholders, which include the BGF Investment Fund and Proventus Capital Partners.

Speaking to HCM today, a spokesperson for Xercise4Less said a deal was being completed in time for the reopening of the fitness industry. The exact makeup of the shareholding structure and the new funding arrangements have not been revealed, nor has the mechanism by which this has been achieved.

"We're pleased to announce the sale process has finished and the transaction will complete when the gyms reopen, at which time we will be able to share more details,” the spokesperson said.

The decision to look for a new owner was made after Xercise4Less was hit by the COVID-19 lockdown and the owners brought in restructuring specialist Alan Fort to review its position.

In 2018, the company announced ambitious plans to double in size and have 100 clubs open by 2021.

That same year, it secured growth investment of £42m from Proventus, which is debt provider to the company. BGF is understood to have a £21.7m stake, while Jon Wright continues to have an interest in the business.

• Peter Wright, the former Xercise4Less CEO who left the company in January 2020, gave an interview to HCM in January 2019, outlining his plans for the company. Read the interview here.

If you would like to get each issue of HCM magazine sent direct to you for FREE, plus the weekly HCM ezine, sign up now!
Budget fitness chain, Xercise4Less, will have a new shareholding set-up and financing structure by the time the UK's gyms are allowed to open their doors to customers.
HAF,FIT,IND,PTS
2020/THUMB345755_54805_544293.jpg
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David Lloyd Leisure has launched a raft of outdoor classes, including an enhanced role for its Battlebox concept, as Liz Terry reports
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feature
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News

Exclusive: Xercise4Less deal to be completed when gyms open

Budget fitness chain, Xercise4Less, will have a new ownership structure and financing set-up by the time the UK's gyms are allowed to open their doors to customers.

The chain, which operates 51 gyms across the UK, was put up for sale in May 2020 by its current investors, directors and shareholders, which include the BGF Investment Fund and Proventus Capital Partners.

Speaking to HCM today, a spokesperson for Xercise4Less said a deal was being completed in time for the reopening of the fitness industry. The exact makeup of the shareholding structure and the new funding arrangements have not been revealed, nor has the mechanism by which this has been achieved.

"We're pleased to announce the sale process has finished and the transaction will complete when the gyms reopen, at which time we will be able to share more details,” the spokesperson said.

The decision to look for a new owner was made after Xercise4Less was hit by the COVID-19 lockdown and the owners brought in restructuring specialist Alan Fort to review its position.

In 2018, the company announced ambitious plans to double in size and have 100 clubs open by 2021.

That same year, it secured growth investment of £42m from Proventus, which is debt provider to the company. BGF is understood to have a £21.7m stake, while Jon Wright continues to have an interest in the business.

• Peter Wright, the former Xercise4Less CEO who left the company in January 2020, gave an interview to HCM in January 2019, outlining his plans for the company. Read the interview here.

If you would like to get each issue of HCM magazine sent direct to you for FREE, plus the weekly HCM ezine, sign up now!
Budget fitness chain, Xercise4Less, will have a new shareholding set-up and financing structure by the time the UK's gyms are allowed to open their doors to customers.
HAF,FIT,IND,PTS
2020/THUMB345755_54805_544293.jpg

News

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A number of gym operators are concerned that local lockdowns could come into effect in
Prime Minister Boris Johnson has announced that gyms may be able to reopen in a
EMD UK
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As countries around the world gear up to relax their lockdown rules, there remains a
UK consumer confidence has improved significantly since the beginning of the lockdown, with a fifth
The PGA Tour has recently bought 1,000 Whoop bands for its golfers, after PGA Tour
ukactive has announced that Active Uprising and the National Summit are going digital as part
Industry body ukactive has today (1 July) hosted a delegation of government and public health
Health and fitness company Ingesport – which operates the GO fit chain of gyms in
Mountainside Fitness in Arizona has filed a lawsuit against state's governor, Doug Ducey, after he
Focus Training
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Fitness expert and television host, Jessie Pavelka has collaborated with Fisikal, experts in digital management
Physical activity levels in England have continued to fall from those recorded at the initial
Franchise operator Club Pilates has shown that there is growing confidence in the US fitness
Fitness and athletic apparel firm Lululemon will acquire at-home fitness tech firm Mirror in a
ukactive
ukactive
1 - 15 of 11,502
Features
Consumer culture
There’s been a lot of disruption and when everything stops, the winners will move into the space. You need to get ready for the next 24 months
Features
Strength
It’s considered a fundamental part of our fitness routines by medical professionals, but many exercisers, particularly women, are still put off by strength training. We asked leading suppliers what they’re doing to champion strength
Features
Reopening
David Lloyd Leisure has launched a raft of outdoor classes, including an enhanced role for its Battlebox concept, as Liz Terry reports
Features
Supplier showcase
Bannatyne has driven member engagement with Les Mills during the lockdown
Features
Talking Point
The fitness industry has shown incredible flexibility during lockdown, pivoting to digital to keep people active. But as lockdowns end, we ask what impact the pandemic will have on facility provision
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feature
As the health and fitness industry gears up for reopening, Caroline Constantine, MD of Right Directions, shares critical guidance about safe operating procedures
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Featured supplier: Fisikal chosen as tech partner for ‘JP4’; new health app from fitness expert, Jessie Pavelka
Fitness expert and television host, Jessie Pavelka has collaborated with Fisikal, experts in digital management solutions, to create the new JP4 app, a premium 12-week personal health and fitness transformation programme that takes the user on a journey of change through four key elements of health.
Video Gallery
Technogym mywellness app
Technogym
Improve your training experience. All your data in a single app. Read more
More videos:
Company profiles
Company profile: TRIB3 International Ltd
First established in Sheffield in January 2016 TRIB3 is a bootcamp boutique studio designed to ...
Company profiles
Company profile: Matrix Fitness
Matrix strives to offer equipment that will captivate your members, is easy to maintain, and ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Direct debit solutions
Harlands Group: Direct debit solutions
Fitness software
Go Do.Fitness: Fitness software
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Whole body cryotherapy
Zimmer MedizinSysteme GmbH / icelab: Whole body cryotherapy
Exercise equipment
Power Plate: Exercise equipment
Gym flooring
REGUPOL/Berleburger Schaumstoffwerk (BSW): Gym flooring
Spa software
SpaBooker: Spa software
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Sothys: Skincare
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Crown Sports Lockers: Lockers/interior design
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Greywell, Hampshire
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