Private equity firm, Legal & General Ventures (LGV), has backed a management buyout of the Total Fitness chain of health clubs for a rumoured £80m.

Formed in 1995 with a club in Castleknock, Dublin, the chain has grown to 21 clubs located mainly in the north-west of England.

LGV is backing the Total Fitness management team, led by managing director, Robin Johnson and finance director John Peers. The company’s existing bankers, Barclays, have agreed to provide appropriate facilities to fund the acquisition and will provide support for the future development of the business.

Johnson said: “We believe, with its new support and resources, Total Fitness can carry on growing and developing its value for money concept.

“We are confident that the business will continue to thrive under its new ownership and that the benefits will be felt by all of our members and staff.”

LGV's managing director, Brian Phillips, said the new owner plans to continue to expand the chain with new openings every year. “This is an incredibly well managed business which has a clearly defined niche in the market and a terrific track record,” he said.

The chain’s large purpose-built clubs typically house a full service gym, exercise studios, a range of swimming pools and spa facilities. In addition, several centres include four-lane 200m indoor running tracks.

The company also provides for those with little or no existing fitness levels, particularly older people and those affected by injury or disease. It offers facilities for physical rehabilitation, remedial exercise, functional training as well as health care provision and education with clinical memberships available for both adults and children.

Total Fitness also offers pay as you play schemes for medical / health care groups, and runs various monthly or day pass schemes with primary care trusts to increase participation in physical activity, such as healthy living programmes and smoking cessation initiatives.

Two of the chain’s sites extend to well over 100,000sq ft and it has opened two new units in the Manchester area in the past few months.

The business has a total membership of more than 150,000.