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FIBO Exhibition
FIBO Exhibition
FIBO Exhibition
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UNITING THE WORLD OF FITNESS
Health Club Management

Health Club Management

News

KSL acquires majority stake in Third Space ahead of 'substantial expansion'

KSL Capital Partners has acquired a majority interest in luxury health club operator Third Space
Encore Capital, who originally invested in the company in 2010, will remain a significant investor
The move comes as the operator has secured a substantial pipeline of new sites
Confirmed new openings include a seventh site, set to open in late 2021, in Mayfair

KSL Capital Partners has acquired a majority interest in luxury health club operator Third Space from Encore Capital, who originally invested in the company in 2010.

The financial terms of the transaction were not disclosed, but Encore Capital will remain a significant investor in Third Space.

Launched in 2001, Third Space currently operates a portfolio of six clubs.

The move comes as the operator has secured a substantial pipeline of new sites and plans to expand its estate across London.

Confirmed new openings include a seventh site, set to open in late 2021, at the heart of Mayfair at Number One Curzon St.

In addition to new clubs, the company plans to continue to develop its brand outside of the traditional club environment, both digitally and "in new settings".

Colin Waggett, CEO of Third Space, said, “KSL’s reputation and experience as a global investor in leisure, combined with Encore’s deep understanding of the London market, makes for an exciting new chapter for Third Space, with significant opportunities.

"We're recovering swiftly from the pandemic, with members prioritising their fitness more than ever.

"Our clubs provide exactly the sort of environment in which people feel both safe and inspired.

"Our brand has never been in more demand from landlords looking to differentiate their developments, and we're excited at the prospect of taking Third Space to more parts of London.

"We have a committed investor in Encore and with the addition of KSL, we are uniquely placed to capitalise on these opportunities.”

Martin Edsinger, Principal at KSL, said: “Third Space’s mission and growth plan align perfectly with KSL's long history of investing in differentiated, experiential hospitality and wellness brands that are committed to people and community impact.

"We're privileged to partner with an exceptional management team with such a strong operational foundation, as well as Encore Capital’s unique London knowledge. We look forward to helping Third Space grow in new and existing markets."

KSL has been one of the most active investors in the global wellness and leisure sector, with a roster of premium brands passing through its portfolio, from Espa to several Aman resorts and from Whistler Blackcomb to the Salamander Resort and Spa.

KSL's deep knowledge of the global spa and wellness, resort and hotel markets means we're likely to see Third Space heading into this territory at some point.

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
KSL Capital Partners has acquired a majority interest in luxury health club operator Third Space from Encore Capital, who originally invested in the company in 2010.
PTS,HAF,FIT,IND
2021/THUMB348266_484480_960118.jpg
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Diary dates
01-03 Feb 2022
Coventry Building Society Arena, Coventry, United Kingdom
Diary dates
07-10 Apr 2022
Exhibition Centre , Cologne, Germany
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15-16 Jun 2022
ExCeL London, London, United Kingdom
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01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates

News

KSL acquires majority stake in Third Space ahead of 'substantial expansion'

KSL Capital Partners has acquired a majority interest in luxury health club operator Third Space
Encore Capital, who originally invested in the company in 2010, will remain a significant investor
The move comes as the operator has secured a substantial pipeline of new sites
Confirmed new openings include a seventh site, set to open in late 2021, in Mayfair

KSL Capital Partners has acquired a majority interest in luxury health club operator Third Space from Encore Capital, who originally invested in the company in 2010.

The financial terms of the transaction were not disclosed, but Encore Capital will remain a significant investor in Third Space.

Launched in 2001, Third Space currently operates a portfolio of six clubs.

The move comes as the operator has secured a substantial pipeline of new sites and plans to expand its estate across London.

Confirmed new openings include a seventh site, set to open in late 2021, at the heart of Mayfair at Number One Curzon St.

In addition to new clubs, the company plans to continue to develop its brand outside of the traditional club environment, both digitally and "in new settings".

Colin Waggett, CEO of Third Space, said, “KSL’s reputation and experience as a global investor in leisure, combined with Encore’s deep understanding of the London market, makes for an exciting new chapter for Third Space, with significant opportunities.

"We're recovering swiftly from the pandemic, with members prioritising their fitness more than ever.

"Our clubs provide exactly the sort of environment in which people feel both safe and inspired.

"Our brand has never been in more demand from landlords looking to differentiate their developments, and we're excited at the prospect of taking Third Space to more parts of London.

"We have a committed investor in Encore and with the addition of KSL, we are uniquely placed to capitalise on these opportunities.”

Martin Edsinger, Principal at KSL, said: “Third Space’s mission and growth plan align perfectly with KSL's long history of investing in differentiated, experiential hospitality and wellness brands that are committed to people and community impact.

"We're privileged to partner with an exceptional management team with such a strong operational foundation, as well as Encore Capital’s unique London knowledge. We look forward to helping Third Space grow in new and existing markets."

KSL has been one of the most active investors in the global wellness and leisure sector, with a roster of premium brands passing through its portfolio, from Espa to several Aman resorts and from Whistler Blackcomb to the Salamander Resort and Spa.

KSL's deep knowledge of the global spa and wellness, resort and hotel markets means we're likely to see Third Space heading into this territory at some point.

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
KSL Capital Partners has acquired a majority interest in luxury health club operator Third Space from Encore Capital, who originally invested in the company in 2010.
PTS,HAF,FIT,IND
2021/THUMB348266_484480_960118.jpg

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FIBO Exhibition
FIBO Exhibition
1 - 20 of 12,048
HCM Magazine
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Featured supplier news: FitnessOnDemand launches new live-streaming feature for all fitness clubs and their members
FitnessOnDemand (FOD) [IHRSA BOOTH 1509] the leader in on-demand content from the world’s most innovative fitness brands and celebrity trainers, this month introduces a new platform evolution for all club operators and their customers.
Featured supplier news
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During the pandemic, a digital transformation took off faster than anyone could have predicted with meetings in person cancelled and millions working from home.
Featured operator news
Featured operator news: Everyone Active generates £342m in social value
Award-winning leisure operator Everyone Active generated £342million in social value at its sites across the country in 2019/20.
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: FIBO Global Fitness
FIBO Global Fitness is the leading international trade show for fitness, wellness & health....
Company profiles
Company profile: Freemotion Fitness
With science and innovation at its core, Freemotion questions how we work out and then ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Wearable technology solutions
MyZone: Wearable technology solutions
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
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Total Vibration Solutions / TVS Sports Surfaces: Flooring
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trade associations
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Comfort Zone - Davines S.p.A: Skincare
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Property & Tenders
Welwyn Garden City
Welwyn Hatfield Borough Council
Property & Tenders
Newport, Shropshire
Lilleshall Sports Academy
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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
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Diary dates
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