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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 tells HCM it's up for sale

Budget fitness chain, Xercise4Less, is being sold off by its investors, directors and shareholders, which include the BGF investment fund and Proventus Capital Partners, HCM can reveal.

The chain, which operates 51 gyms across the UK, has been hit by the COVID-19 lockdown and the owners brought in restructuring specialist Alan Fort recently to review its position.

Speaking to HCM today, an official spokesperson said: “The directors and owners have reviewed the financial resources of the company and assessed the projected reopening date of our clubs – along with the time needed to rebuild the membership base of the business.

"The decision has been taken to seek additional funds, with the best way of achieving this being to begin a sale process.

"This will enable us to come out of the COVID-19 crisis in a stronger position.”

The move comes less than 18 months after the low-cost operator announced ambitious plans to double in size and have 100 clubs open by 2021.

In May 2018, Xercise4Less 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.

Founded in 2009 by Wright, Xercise4Less currently has around 250,000 members.

In August 2018 it appointed industry veteran Peter Wright as its new CEO. The company confirmed today that he left the business in January.

Proventus Capital Partners is a 50-year-old, family-owned private investment house based in Stockholm.

In addition to its interests in commerce and finance, it has made a number of moves into the leisure sector, including investments in the East London Pub Co, StayCity and Riviera Travel.

The company was an early investor in The Gym Group and German chain WellYou Fitness.

BGF is a backer of Gym Box.

• Peter Wright gave an interview to HCM in January 2019, outlining his plans for the company. Read the interview here.

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
Budget fitness chain, Xercise4Less, is being sold off by its investors, directors and shareholders, which include the BGF investment fund and Proventus Capital Partners, HCM can reveal.
PTS,HAF,FIT,IND
2020/THUMB345478_888085_662148.jpg
Latest News
Health clubs and gyms in Catalonia have reopened their doors once for a second time, ...
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Health clubs, gyms, indoor pools and leisure centres have reopened in Wales – nearly five ...
Latest News
Today (10 August) is the last day for companies to enter the follow-up survey to ...
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A significant proportion of leisure facilities in England have not reopened since lockdown measures were ...
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Features
Editor's letter
We must come out of COVID with a new mantle, forged by the challenges we’ve faced. It’s time to invest in getting some real clout
Features
FIBO Awards
Although the show has been rescheduled, the six winners of the FIBO Innovation and Trend Awards 2020 have still been announced. We take a look at the companies whose developments help motivate people to live healthier lives
Features
Accessibility
Sport England has teamed up with 15 health and social care charities to find ways to support people living with 10 different health conditions to be physically active. Kath Hudson finds out more
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Speedflex has created a synergistic partnership with Everyone Active to deliver a new boutique concept – FORTIS Powered by Speedflex
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People
HCM people

Dave Courteen

MD and co-founder of Mosaic Spa and Health Clubs
I set myself the goal that if I found someone famous to write the foreword and a publisher, then I would write the book
People
Operators should start with the home fitness journey, working out how to gain a competitive advantage here, before working out how to dovetail physical visits into this
People
Catch-up is already happening. We’re up to 80% of the visits compared to the same day in 2019 and membership sales are up 150-200%
Opinion
promotion
Data-driven businesses are some of today’s greatest global success stories, providing blueprints for success.
Opinion: Up your ‘data game’ to successfully relaunch your fitness business
Opinion
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Evidence suggests that over many years personal trainers have been forced to leave the fitness industry because employment patterns are erratic, earnings are inconsistent and it is difficult to build up value needed to secure an appropriate lifestyle.
Opinion: Personal trainers need support as employment opportunities diminish: FREE on-demand webinar
Featured supplier news
Featured supplier: Digital education: TRX trains more than 14,000 professionals for free using live virtual training
In response to the pandemic, TRX, the global leader in functional training equipment, world- class training content, and app-based training technology, transformed its TRX Suspension Training Course into a free, live virtual edition via Zoom.
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Property & Tenders
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21-24 Sep 2020
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22-23 Sep 2020
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03-06 Jun 2021
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Diary dates
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ExCeL London, London, United Kingdom
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News

Exclusive: Xercise4Less tells HCM it's up for sale

Budget fitness chain, Xercise4Less, is being sold off by its investors, directors and shareholders, which include the BGF investment fund and Proventus Capital Partners, HCM can reveal.

The chain, which operates 51 gyms across the UK, has been hit by the COVID-19 lockdown and the owners brought in restructuring specialist Alan Fort recently to review its position.

Speaking to HCM today, an official spokesperson said: “The directors and owners have reviewed the financial resources of the company and assessed the projected reopening date of our clubs – along with the time needed to rebuild the membership base of the business.

"The decision has been taken to seek additional funds, with the best way of achieving this being to begin a sale process.

"This will enable us to come out of the COVID-19 crisis in a stronger position.”

The move comes less than 18 months after the low-cost operator announced ambitious plans to double in size and have 100 clubs open by 2021.

In May 2018, Xercise4Less 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.

Founded in 2009 by Wright, Xercise4Less currently has around 250,000 members.

In August 2018 it appointed industry veteran Peter Wright as its new CEO. The company confirmed today that he left the business in January.

Proventus Capital Partners is a 50-year-old, family-owned private investment house based in Stockholm.

In addition to its interests in commerce and finance, it has made a number of moves into the leisure sector, including investments in the East London Pub Co, StayCity and Riviera Travel.

The company was an early investor in The Gym Group and German chain WellYou Fitness.

BGF is a backer of Gym Box.

• Peter Wright gave an interview to HCM in January 2019, outlining his plans for the company. Read the interview here.

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
Budget fitness chain, Xercise4Less, is being sold off by its investors, directors and shareholders, which include the BGF investment fund and Proventus Capital Partners, HCM can reveal.
PTS,HAF,FIT,IND
2020/THUMB345478_888085_662148.jpg

News

Health clubs and gyms in Catalonia have reopened their doors once for a second time,
Health clubs, gyms, indoor pools and leisure centres have reopened in Wales – nearly five
Today (10 August) is the last day for companies to enter the follow-up survey to
A significant proportion of leisure facilities in England have not reopened since lockdown measures were
Industry body, ukactive, has questioned the decision to close gyms and health clubs as part
Prime Minister Boris Johnson has paid a surprise visit to a branch of The Gym
Global Wellness Summit
Global Wellness Summit
As countries around the world gear up to relax their lockdown rules, there remains a
Planet Fitness' share price on the New York Stock Exchange has remained steady at between
Two of the largest health club operators in the US have announced that members and
If you're a personal trainer working in the UK, you can now get online PT
A member of SAGE, the government’s independent group of scientific advisers, has said gyms, pubs
Following approval to build a £250mn wellbeing resort in Manchester, Therme Group has revealed plans
Europe's largest gym chain, Basic-Fit, has provided the European fitness sector with some optimism, after
Gympass
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DW Sports is going into administration saying it's working to save its 73-strong gym portfolio.
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EMD UK
EMD UK
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Features
Editor's letter
We must come out of COVID with a new mantle, forged by the challenges we’ve faced. It’s time to invest in getting some real clout
Features
FIBO Awards
Although the show has been rescheduled, the six winners of the FIBO Innovation and Trend Awards 2020 have still been announced. We take a look at the companies whose developments help motivate people to live healthier lives
Features
Accessibility
Sport England has teamed up with 15 health and social care charities to find ways to support people living with 10 different health conditions to be physically active. Kath Hudson finds out more
Features
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Speedflex has created a synergistic partnership with Everyone Active to deliver a new boutique concept – FORTIS Powered by Speedflex
Features
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Features
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Active IQ has partnered with leading experts at Nuffield Health who, alongside its chief medical advisor, Dr Dane Vishnubala, have created a new Level 3 Diploma in Working with People with Long-term Conditions
Features
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Features
People
HCM people

Dave Courteen

MD and co-founder of Mosaic Spa and Health Clubs
I set myself the goal that if I found someone famous to write the foreword and a publisher, then I would write the book
People
Operators should start with the home fitness journey, working out how to gain a competitive advantage here, before working out how to dovetail physical visits into this
People
Catch-up is already happening. We’re up to 80% of the visits compared to the same day in 2019 and membership sales are up 150-200%
People
HCM people

Debra Wein

founder and CEO, Wellness Workdays
I’ve always felt that if individuals had more education and understanding of nutrition and healthy lifestyle principles, we could literally change lives
People
HCM people

Dan Bond

Owner, CrossFit Fort Ashton
We’d explained leading up to the lockdown that if everyone decided to freeze or cancel, then there would be a possibility of not having a gym to come back to
People
HCM people

Aaron Smith

Founder, KX Pilates
‘KX’ stands for ‘the Kaizen Experience’, which means ‘change for the better’ in Japanese. It’s a philosophy that focuses on continuous improvement. We’re always seeking to improve, not only as a company but as individuals
People
HCM people

Jo Smallwood

general manager, Oldham Leisure Centre
We saw the opportunity to initiate new partnerships with the Oldham Foodbank to help local residents during the COVID-19 crisis. We can’t serve our community in the way we would usually do, so we’ve moved resources to help where people need us most
People
Our COVID-19 measures make our clubs significantly safer than any other public space
People
HCM people

Ben Lucas

Founder, Flow Athletic, Sydney
We advise our Flow Athletes to complete classes at a ratio of one yoga class to one strength class to one cardio class. This combination has very positive effects
People
Opinion
promotion
Data-driven businesses are some of today’s greatest global success stories, providing blueprints for success.
Opinion: Up your ‘data game’ to successfully relaunch your fitness business
Opinion
promotion
Evidence suggests that over many years personal trainers have been forced to leave the fitness industry because employment patterns are erratic, earnings are inconsistent and it is difficult to build up value needed to secure an appropriate lifestyle.
Opinion: Personal trainers need support as employment opportunities diminish: FREE on-demand webinar
Featured supplier news
Featured supplier: Digital education: TRX trains more than 14,000 professionals for free using live virtual training
In response to the pandemic, TRX, the global leader in functional training equipment, world- class training content, and app-based training technology, transformed its TRX Suspension Training Course into a free, live virtual edition via Zoom.
Featured supplier news
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
Temple Gym - Nautilus Equipment
Core Health & Fitness
Temple Gym - Nautilus Equipment Read more
More videos:
Company profiles
Company profile: Healthcheck Services Ltd
Here at Healthcheck Services, we want to empower you, your clients & your staff to ...
Company profiles
Company profile: Keiser UK Ltd
Keiser began its history of visionary sports science leadership over 40 years ago, rejecting the ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Locking solutions
Monster Padlocks: Locking solutions
Spa software
SpaBooker: Spa software
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Trade associations
International SPA Association - iSPA: Trade associations
Whole body cryotherapy
Zimmer MedizinSysteme GmbH / icelab: Whole body cryotherapy
Gym flooring
REGUPOL/Berleburger Schaumstoffwerk (BSW): Gym flooring
Lockers/interior design
Fitlockers: Lockers/interior design
Exercise equipment
EXF Fitness Equipment: Exercise equipment
Direct debit solutions
Harlands Group: Direct debit solutions
Property & Tenders
Waltham Abbey, Essex
Lee Valley Regional Park Authority
Property & Tenders
Diary dates
21-24 Sep 2020
Loews Coronado Bay Resort, Coronado, United States
Diary dates
21-24 Sep 2020
Messe Stuttgart, Germany
Diary dates
22-23 Sep 2020
Heythrop Park, United Kingdom
Diary dates
17-23 Oct 2020
Pinggu, Beijing, China
Diary dates
03-06 Nov 2020
Online,
Diary dates
27-28 Nov 2020
Athena, Leicester, United Kingdom
Diary dates
23-26 Feb 2021
IFEMA, Madrid, Spain
Diary dates
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Diary dates
03-06 Jun 2021
Expo Centre & Riviera di Rimini, Italy
Diary dates
16-17 Jun 2021
ExCeL London, London, United Kingdom
Diary dates
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