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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.

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Related news

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Latest News
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Features
Innovation
With members stuck at home, now’s the perfect time to plan some cost-effective upgrades to your clubs. Suppliers explain how a flooring refresh could help attract members back in-club as the pandemic eases
Features
feature
Premier Global NASM has restructured its education offering to create new career pathways to help personal trainers and individuals entering the sector navigate their way to career success. Dan Rees explains the rationale
Features
Coronavirus
The coronavirus pandemic has inspired a huge pivot to digital right across the industry, from sole traders to large chains and trusts. Kath Hudson looks at some of the offerings pulled together in lightning fast time to keep members active and sane
Features
Functional training
It’s easy to get stuck in a functional rut, relying on the same old burpees and ball slams. We ask for inspiration on how to put the fun back into functional training
Features
Promotional feature
Reaching members anywhere and anytime to connect, engage and coach is more important than ever and can easily be activated through Technogym Mywellness
Features
Coronavirus
As clubs were ordered to close, one logical response was to freeze memberships, despite the financial difficulties it would cause. However, many operators found their community was willing to support them, as Kath Hudson reports
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HCM research
The good news? People are changing their exercise habits in lockdown, becoming more active and spending more time exercising with their children, according to new research
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People
HCM people

Professor Zhen Yan

director of the Center for Skeletal Muscle Research, University of Virginia
Regular exercise may help people survive COVID-19
People
Now we have an offering with no geographical limits, we’re looking to sell digital memberships beyond our member base
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HCM people

Michael Ramsay

Founder and director, STRONG Rowformer
There’s something about the combination of fast-twitch and slow-twitch fibres working together that absolutely destroys you and gives you an almost euphoric feeling at the end of every workout
Job search
POST YOUR JOB
Opinion
promotion
Elon Musk has plans to conquer Mars and these days the meat on your hamburger can be grown in a lab - so why are so many fitness businesses still using papers and pens to create workouts for their members?
Opinion: How the current pandemic may be helping the fitness industry to innovate
Opinion
promotion
The activity industry finds itself in a position of considerable threat. Two-thirds of the world’s gyms are closed – that’s 230 million members unable to attend a fitness facility, according to data platform fitNdata.
Opinion: Ensuring members return after lockdown
Featured supplier news
Featured supplier: Bicester hotel opens purpose-built performance facilities to attract new target audience
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Innovatise, the company behind myFitApp, has announced the immediate availability of its customer- branded live-streaming solution.
Video Gallery
How to use the MZ-Bodyscan
MyZone
The Best Product for the Best Clubs Read more
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Company profile: Crown Sports Lockers
Crown Sports Lockers has designed, crafted and fitted bespoke timber furniture for spas, hotels and ...
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TRX provides world-class functional training by offering quality equipment, effective workouts and world-class education capable ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Fitness software
Go Do.Fitness: Fitness software
Gym flooring
REGUPOL/Berleburger Schaumstoffwerk (BSW): Gym flooring
Direct debit solutions
Harlands Group: Direct debit solutions
Exercise equipment
EXF Fitness Equipment: Exercise equipment
Design consultants
Zynk Design Consultants: Design consultants
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Locking solutions
Monster Padlocks: Locking solutions
Wearable technology solutions
MyZone: Wearable technology solutions
Skincare
Sothys: Skincare
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Property & Tenders
Greywell, Hampshire
Barnsgrove Health and Wellness Club
Property & Tenders
Derby City Council
Property & Tenders
Diary dates
04 Jun 2020
Marriott Forest of Arden Hotel & Country Club, Birmingham, United Kingdom
Diary dates
13 Jun 2020
Worldwide, Various,
Diary dates
06-07 Jul 2020
Eastwood Hall, Nottingham, United Kingdom
Diary dates
28-31 Aug 2020
Expo Centre & Riviera di Rimini, Italy
Diary dates
21-24 Sep 2020
Loews Coronado Bay Resort, Coronado, United States
Diary dates
11-12 Oct 2020
ExCeL London, London, United Kingdom
Diary dates
17-23 Oct 2020
Pinggu, Beijing, China
Diary dates
27-30 Oct 2020
Messe Stuttgart, Germany
Diary dates
30-31 Oct 2020
NEC, Birmingham, United Kingdom
Diary dates
27-28 Nov 2020
Athena, Leicester, United Kingdom
Diary dates

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 for FREE ezines & magazines
Related news

Xercise4Less appoints chief tech officer to lead innovation ahead of expansion

27 Mar 2019
Budget operator Xercise4Less has appointed a chief technology officer to lead the company through a ...

Budget chain Xercise4Less plans to double in size by 2021

18 Jan 2019
Low-cost fitness operator Xercise4Less is has revealed plans to double in size and have 100 ...

News

The fitness industry in Europe is uniting today (30 May) to launch #beactivehour, a free
PureGym has become the latest fitness operator to deploy a digital offering in a bid
A new report has revealed the likely timescales and shape of the UK fitness market's
There has been a "surge in appreciation" of exercise during lockdown, with people turning to
Gyms and health clubs in Dubai, UAE, have begun reopening their doors today (27 May)
HCM understands that the directors of énergie Fitness have brought in specialist company FRP Advisory
Zynk Design Consultants
Zynk Design Consultants
Planning approval has been granted for a new David Lloyd Club in Bicester, Oxfordshire. The
Aerobic exercise boosts blood flow into two key regions of the brain associated with memory,
Gympass has launched a new digital platform as a response to the increase in demand
Austrian medical health and wellness operator, Lanserhof, has launched a programme for people who’ve had
HCM can report that Europe Active's annual thought-leader conference, the European Health and Fitness Forum
The number of people signing up for memberships at Planet Fitness has been at 2019
Focus Training
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Incorpore and MoveGB are pleased to announce they have entered into a landmark partnership, combining
Gyms in England could be open in July if lobbying by the fitness industry comes
A survey by Savanta ComRes, in partnership with Sport England, has studied the impact of
Gyms and health clubs in the US have begun reopening their doors, with a number
SIBEC
SIBEC
1 - 15 of 11,432
Features
Innovation
With members stuck at home, now’s the perfect time to plan some cost-effective upgrades to your clubs. Suppliers explain how a flooring refresh could help attract members back in-club as the pandemic eases
Features
feature
Premier Global NASM has restructured its education offering to create new career pathways to help personal trainers and individuals entering the sector navigate their way to career success. Dan Rees explains the rationale
Features
Coronavirus
The coronavirus pandemic has inspired a huge pivot to digital right across the industry, from sole traders to large chains and trusts. Kath Hudson looks at some of the offerings pulled together in lightning fast time to keep members active and sane
Features
Functional training
It’s easy to get stuck in a functional rut, relying on the same old burpees and ball slams. We ask for inspiration on how to put the fun back into functional training
Features
Promotional feature
Reaching members anywhere and anytime to connect, engage and coach is more important than ever and can easily be activated through Technogym Mywellness
Features
Coronavirus
As clubs were ordered to close, one logical response was to freeze memberships, despite the financial difficulties it would cause. However, many operators found their community was willing to support them, as Kath Hudson reports
Features
HCM research
The good news? People are changing their exercise habits in lockdown, becoming more active and spending more time exercising with their children, according to new research
Features
People
HCM people

Professor Zhen Yan

director of the Center for Skeletal Muscle Research, University of Virginia
Regular exercise may help people survive COVID-19
People
Now we have an offering with no geographical limits, we’re looking to sell digital memberships beyond our member base
People
HCM people

Michael Ramsay

Founder and director, STRONG Rowformer
There’s something about the combination of fast-twitch and slow-twitch fibres working together that absolutely destroys you and gives you an almost euphoric feeling at the end of every workout
People
Kate Cracknell talks connected health and digital transformation with Chris Blackwell-Frost, Martin Friend and Rick Crawford from Nuffield Health’s senior management team
People
HCM people

Dr Jonathan Leary

Remedy Place, West Hollywood: Founder and CEO
Remedy Place teaches people how to take care of themselves and gives them the tools they need to be holistically healthy
People
HCM people

Ed Stanbury

BLOK: CEO and co-founder
Although we’re now ambitious about creating a global lifestyle brand, initially there wasn’t a grand masterplan – we just thought it would be fun to open a local gym and that has spiralled...
People
HCM people

Aaron Brooks-Thornett

Freely Given PT: founder
A donation-based payment system creates a non-discriminatory environment and empowers people to give what they think the service is worth. This also challenges me to keep service levels high
People
It’s no mistake that many successful boutiques have a baller brand strategist sitting at their core
People
There are more opportunities in the UK than we thought – If glasgow can support five clubs, why shouldn’t we have three in leeds and sheffield?
People
Job search
POST YOUR JOB
Opinion
promotion
Elon Musk has plans to conquer Mars and these days the meat on your hamburger can be grown in a lab - so why are so many fitness businesses still using papers and pens to create workouts for their members?
Opinion: How the current pandemic may be helping the fitness industry to innovate
Opinion
promotion
The activity industry finds itself in a position of considerable threat. Two-thirds of the world’s gyms are closed – that’s 230 million members unable to attend a fitness facility, according to data platform fitNdata.
Opinion: Ensuring members return after lockdown
Featured supplier news
Featured supplier: Bicester hotel opens purpose-built performance facilities to attract new target audience
The Bicester Hotel and Spa has launched purpose-built fitness and performance facilities to create a standalone, unique offering to attract a new demographic to the site.
Featured supplier news
Featured supplier: myFitApp launches branded live-streaming as part of its COVID-19 support package
Innovatise, the company behind myFitApp, has announced the immediate availability of its customer- branded live-streaming solution.
Video Gallery
How to use the MZ-Bodyscan
MyZone
The Best Product for the Best Clubs Read more
More videos:
Company profiles
Company profile: Crown Sports Lockers
Crown Sports Lockers has designed, crafted and fitted bespoke timber furniture for spas, hotels and ...
Company profiles
Company profile: TRX Training UK
TRX provides world-class functional training by offering quality equipment, effective workouts and world-class education capable ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Fitness software
Go Do.Fitness: Fitness software
Gym flooring
REGUPOL/Berleburger Schaumstoffwerk (BSW): Gym flooring
Direct debit solutions
Harlands Group: Direct debit solutions
Exercise equipment
EXF Fitness Equipment: Exercise equipment
Design consultants
Zynk Design Consultants: Design consultants
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Locking solutions
Monster Padlocks: Locking solutions
Wearable technology solutions
MyZone: Wearable technology solutions
Skincare
Sothys: Skincare
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Property & Tenders
Greywell, Hampshire
Barnsgrove Health and Wellness Club
Property & Tenders
Derby City Council
Property & Tenders
Diary dates
04 Jun 2020
Marriott Forest of Arden Hotel & Country Club, Birmingham, United Kingdom
Diary dates
13 Jun 2020
Worldwide, Various,
Diary dates
06-07 Jul 2020
Eastwood Hall, Nottingham, United Kingdom
Diary dates
28-31 Aug 2020
Expo Centre & Riviera di Rimini, Italy
Diary dates
21-24 Sep 2020
Loews Coronado Bay Resort, Coronado, United States
Diary dates
11-12 Oct 2020
ExCeL London, London, United Kingdom
Diary dates
17-23 Oct 2020
Pinggu, Beijing, China
Diary dates
27-30 Oct 2020
Messe Stuttgart, Germany
Diary dates
30-31 Oct 2020
NEC, Birmingham, United Kingdom
Diary dates
27-28 Nov 2020
Athena, Leicester, United Kingdom
Diary dates
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