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Les Mills International
Les Mills International
Les Mills International
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UNITING THE WORLD OF FITNESS
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
The US fitness industry lost around 58 per cent of its revenues during 2020, due ...
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Speaking exclusive to HCM, Ralph Scholz and Nathalie Smeeman have confirmed that B2B trade show ...
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The Pingdemic of people receiving notifications on their phones, telling them to self-isolate because of ...
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The Gym Group has extended its partnership with digital fitness platform Fiit, becoming the first ...
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HCM Magazine
Product innovation
“A great atmosphere is just as important to the fitness journey as the right workout routine, says LEDSnaps’ CEO, Ian Kirby
HCM Magazine
Training
Six months on from the launch of its Kickstart programme, The Gym Group is hiring the majority of trainees, as Liz Terry reports
HCM Magazine
Sponsored
With gyms reopening as the fitness industry recovers from the impact of lockdowns, members are seeking social interaction and engaging training experiences in a small group setting
HCM Magazine
Sponsored
Empowered Brands has strengthened its leadership team with the appointment of a new chair and CEO following the untimely death of founder, Jan Spaticchia
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Editor's letter
The pandemic has disrupted everything and as businesses across the leisure industry reshape themselves to survive and thrive, new competition is emerging that will change the sector
HCM Magazine
Sponsored
Every gym design project should be designed from the floor up, says Physical Company’s James Anderson. He tells HCM why
HCM Magazine
Sponsored
Jo Farrier, head of commercial and resources at Active Northumberland, talks about how a strategic partnership with Technogym is changing public perceptions of council leisure facilities
HCM Magazine
HCM magazine
GM Active has launched a training programme to create a new generation of transformational leaders, as Liz Terry reports
HCM magazine
HCM People

Preston Lewis

Co-founder, Black Box VR
Game designers have figured out how to keep people unhealthily addicted to games. If only you could be the hero in a game that levelled up your life
HCM magazine
A new study claims being physically active for 30 minutes a day, five days a week, is not enough for those who spend the rest of their time being sedentary
Featured supplier news
Featured supplier news: INEOS: The future of hand-sanitising
As gyms begin to reopen, cleanliness and hygiene remain an essential part of ensuring staff and members are confident to return.
Featured supplier news
Featured supplier news: FunXtion enhance interactive workouts with the launch of Virtual Player
Digital meets personal with the new Virtual Player from FunXtion, experts in interactive fitness, which allows clubs to stream and schedule world class virtual classes anytime, providing an interactive workout experience on the gym floor, functional area or directly to members at home via an app.
Featured operator news
Featured operator news: Being active helps Parkwood Leisure customers save the NHS £16m
Parkwood Leisure, one of the UK’s leading public leisure facilities operators, helped prevent more than 7,000 cases of stroke, dementia, depression and type 2 diabetes in 2019, saving the NHS £16 million, a new social value report has shown.
Featured operator news
Featured operator news: Everyone Active bolsters Everyone on Demand and enters second year with five new partnerships
Everyone Active has signed a number of new deals which will see the operator strengthen its digital product offering, Everyone on Demand.
Company profiles
Company profile: EGYM UK Ltd
EGYM empowers gym operators to deliver a workout experience that supports their members' lifelong fitness ...
Company profiles
Company profile: Perfect Gym Solutions S.A.
Perfect Gym currently provides fitness software solutions to customers in 55+ countries, servicing more than ...
Supplier Showcases
Supplier showcase - Safe Space: Changing concept
Catalogue Gallery
Click on a catalogue to view it online
Directory
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Whole body cryotherapy
Art of Cryo: Whole body cryotherapy
Wearable technology solutions
MyZone: Wearable technology solutions
Red Light Therapy
 Red Light Rising: Red Light Therapy
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Skincare
Comfort Zone - Davines S.p.A: Skincare
Fitness equipment
Precor: Fitness equipment
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Lockers/interior design
Fitlockers: Lockers/interior design
Architects/designers
Zynk Design Consultants: Architects/designers
Property & Tenders
Newport, Shropshire
Lilleshall Sports Academy
Property & Tenders
Pendine Sands, Carmarthenshire
Carmarthenshire County Council
Property & Tenders
Diary dates
18-19 Sep 2021
Locations worldwide,
Diary dates
21-24 Sep 2021
Messe Stuttgart, Germany
Diary dates
13-14 Oct 2021
Online,
Diary dates
01-03 Feb 2022
Coventry Building Society Arena, Coventry, United Kingdom
Diary dates
07-10 Apr 2022
Exhibition Centre , Cologne, Germany
Diary dates
15-16 Jun 2022
ExCeL London, London, United Kingdom
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
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 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

The US fitness industry lost around 58 per cent of its revenues during 2020, due
Speaking exclusive to HCM, Ralph Scholz and Nathalie Smeeman have confirmed that B2B trade show
The Pingdemic of people receiving notifications on their phones, telling them to self-isolate because of
The Gym Group has extended its partnership with digital fitness platform Fiit, becoming the first
The world's largest fitness trade fair, FIBO, has been rescheduled again and will now take
Rainer Schaller, founder of budget gym megabrand McFIT, says that the global fitness industry will
Crown Sport Lockers (UK) Ltd
Crown Sport Lockers (UK) Ltd
With gyms reopening as the fitness industry recovers from the impact of the pandemic, members
The most high-risk and controversial Olympics of modern times begin today (23 July) in Tokyo,
Further research into the levels of positive COVID-19 cases among those to have visited fitness
Planning approval has been granted to what is set to become one of the first
Digital fitness content provider, Wexer, is launching a new wellness resource on its connected Web
Leisure-net has revealed plans to transform its active-net business event from an annual face-to-face gathering
F45's IPO on the New York Stock Exchange (NYSE) has revealed a strong appetite from
Miha Bodytec GmbH
Miha Bodytec GmbH
Post pandemic, technology continues to shape the way consumers access fitness. Apps and wearables are
A large health club plays a major role in tech giant Microsoft’s recently opened R&D
KA Leisure has appointed industry veteran Malcolm McPhail as its interim chief executive. McPhail, who
Aspria Holdings, owner of eight premium wellbeing clubs in Germany, Belgium and Italy, has entered
Vulnerable young people will be given opportunities to take part in sport and physical activity
Organisers of the Elevate event – scheduled to be held at London’s ExCeL on 28
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Innovatise UK Ltd
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As gyms begin to reopen, cleanliness and hygiene remain an essential part of ensuring staff
A consultation on social prescribing and other similar health programmes will look to "uncover the
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Les Mills
Les Mills
1 - 20 of 11,973
HCM Magazine
Product innovation
“A great atmosphere is just as important to the fitness journey as the right workout routine, says LEDSnaps’ CEO, Ian Kirby
HCM Magazine
Training
Six months on from the launch of its Kickstart programme, The Gym Group is hiring the majority of trainees, as Liz Terry reports
HCM Magazine
Sponsored
With gyms reopening as the fitness industry recovers from the impact of lockdowns, members are seeking social interaction and engaging training experiences in a small group setting
HCM Magazine
Sponsored
Empowered Brands has strengthened its leadership team with the appointment of a new chair and CEO following the untimely death of founder, Jan Spaticchia
HCM Magazine
Editor's letter
The pandemic has disrupted everything and as businesses across the leisure industry reshape themselves to survive and thrive, new competition is emerging that will change the sector
HCM Magazine
Sponsored
Every gym design project should be designed from the floor up, says Physical Company’s James Anderson. He tells HCM why
HCM Magazine
Sponsored
Jo Farrier, head of commercial and resources at Active Northumberland, talks about how a strategic partnership with Technogym is changing public perceptions of council leisure facilities
HCM Magazine
HCM magazine
GM Active has launched a training programme to create a new generation of transformational leaders, as Liz Terry reports
HCM magazine
HCM People

Preston Lewis

Co-founder, Black Box VR
Game designers have figured out how to keep people unhealthily addicted to games. If only you could be the hero in a game that levelled up your life
HCM magazine
A new study claims being physically active for 30 minutes a day, five days a week, is not enough for those who spend the rest of their time being sedentary
HCM magazine
I’ve called on all fellow citizens – members and non-members alike – to exercise more and have made free sports and fitness sessions available to everyone
HCM magazine
HCM People

Stelian Iacob

Stelian Iacob, CEO and senior VP, Therme Group
We’re seeing a much greater focus on the need to integrate healthy living into daily life and reconnect with nature and each other
HCM magazine
At all our John Reed locations globally, we link the fitness environment inside the club to the vibe of the community
HCM magazine
Rigs have been central to gyms for years. Now suppliers tell us how they’re evolving to meet the changing needs of clubs and clients
HCM magazine
With local authority facility management companies and councils under financial pressure due to the pandemic and issues emerging around health inequalities, will we see a trend towards councils insourcing the management of facilities? Kath Hudson rounds up views
HCM magazine
The results from the first Moving Communities Customer Experience survey present a positive picture of overall satisfaction with local authority facilities, explains Mike Hill
HCM magazine
Featured supplier news
Featured supplier news: INEOS: The future of hand-sanitising
As gyms begin to reopen, cleanliness and hygiene remain an essential part of ensuring staff and members are confident to return.
Featured supplier news
Featured supplier news: FunXtion enhance interactive workouts with the launch of Virtual Player
Digital meets personal with the new Virtual Player from FunXtion, experts in interactive fitness, which allows clubs to stream and schedule world class virtual classes anytime, providing an interactive workout experience on the gym floor, functional area or directly to members at home via an app.
Featured operator news
Featured operator news: Being active helps Parkwood Leisure customers save the NHS £16m
Parkwood Leisure, one of the UK’s leading public leisure facilities operators, helped prevent more than 7,000 cases of stroke, dementia, depression and type 2 diabetes in 2019, saving the NHS £16 million, a new social value report has shown.
Featured operator news
Featured operator news: Everyone Active bolsters Everyone on Demand and enters second year with five new partnerships
Everyone Active has signed a number of new deals which will see the operator strengthen its digital product offering, Everyone on Demand.
Company profiles
Company profile: EGYM UK Ltd
EGYM empowers gym operators to deliver a workout experience that supports their members' lifelong fitness ...
Company profiles
Company profile: Perfect Gym Solutions S.A.
Perfect Gym currently provides fitness software solutions to customers in 55+ countries, servicing more than ...
Supplier Showcases
Supplier showcase - Safe Space: Changing concept
Catalogue Gallery
Click on a catalogue to view it online
Directory
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Whole body cryotherapy
Art of Cryo: Whole body cryotherapy
Wearable technology solutions
MyZone: Wearable technology solutions
Red Light Therapy
 Red Light Rising: Red Light Therapy
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Skincare
Comfort Zone - Davines S.p.A: Skincare
Fitness equipment
Precor: Fitness equipment
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Lockers/interior design
Fitlockers: Lockers/interior design
Architects/designers
Zynk Design Consultants: Architects/designers
Property & Tenders
Newport, Shropshire
Lilleshall Sports Academy
Property & Tenders
Pendine Sands, Carmarthenshire
Carmarthenshire County Council
Property & Tenders
Diary dates
18-19 Sep 2021
Locations worldwide,
Diary dates
21-24 Sep 2021
Messe Stuttgart, Germany
Diary dates
13-14 Oct 2021
Online,
Diary dates
01-03 Feb 2022
Coventry Building Society Arena, Coventry, United Kingdom
Diary dates
07-10 Apr 2022
Exhibition Centre , Cologne, Germany
Diary dates
15-16 Jun 2022
ExCeL London, London, United Kingdom
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates
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Les Mills International
Les Mills International