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Precor UK
Precor UK
Precor UK
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UNITING THE WORLD OF FITNESS
Health Club Management

Health Club Management

News

Abandoned IPO cost Pure Gym £6.8m

Pure Gym's planned initial public offering (IPO) that was abandoned last year cost the group £6.8m (US$8.48m, €7.9m), according to sources.

The cost was because the operator had "two runs at it," which involved "a lot of work," sources told Health Club Management.

In January 2016, HCM reported that Pure Gym was considering floating on the stock market.

Later in July, the planned IPO was put on ice because of uncertainty caused by the vote to leave the European Union.

In September, Humphrey Cobbold, Pure Gym chief executive, said the operator was "ready to become a listed company" and that it would be using the IPO to raise £190m (US$237m, €220.6m). However, a month later Cobbold told HCM that it had withdrawn its plans due to challenging market conditions.

Earlier today (30 March), Pure Gym announced that revenues rose by 28 per cent to £159.9m (US$198.5, €184.9m) last year, up from £125.2m (US$155.4m, €144.8m) in 2015.

In 2015, when the Gym Group floated, its IPO-related costs were £7.6m (US$9.5m, €8.8m).

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
Pure Gym's planned initial public offering (IPO) that was abandoned last year cost the group £6.8million (US$8.48m, €7.9m), according to sources.
HAF
THUMB13553_89459.jpg
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Letters
Fuel the debate about issues and opportunities across the industry. We’d love to hear from you – [email protected]
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Alex Nicholl

MD, Sweat by BXR
We were fortunate to be approached by Sheikh Mohammed – a Qatari entrepreneur – to develop the club
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Diary dates
01-03 Feb 2022
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01 Mar 2022
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07-10 Apr 2022
Exhibition Centre , Cologne, Germany
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15-16 Jun 2022
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01-07 Dec 2022
tbc, Dunedin, New Zealand
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News

Abandoned IPO cost Pure Gym £6.8m

Pure Gym's planned initial public offering (IPO) that was abandoned last year cost the group £6.8m (US$8.48m, €7.9m), according to sources.

The cost was because the operator had "two runs at it," which involved "a lot of work," sources told Health Club Management.

In January 2016, HCM reported that Pure Gym was considering floating on the stock market.

Later in July, the planned IPO was put on ice because of uncertainty caused by the vote to leave the European Union.

In September, Humphrey Cobbold, Pure Gym chief executive, said the operator was "ready to become a listed company" and that it would be using the IPO to raise £190m (US$237m, €220.6m). However, a month later Cobbold told HCM that it had withdrawn its plans due to challenging market conditions.

Earlier today (30 March), Pure Gym announced that revenues rose by 28 per cent to £159.9m (US$198.5, €184.9m) last year, up from £125.2m (US$155.4m, €144.8m) in 2015.

In 2015, when the Gym Group floated, its IPO-related costs were £7.6m (US$9.5m, €8.8m).

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
Pure Gym's planned initial public offering (IPO) that was abandoned last year cost the group £6.8million (US$8.48m, €7.9m), according to sources.
HAF
THUMB13553_89459.jpg

News

Boutique boxing gym brand BXR London will open its second full-service club in London next
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Hybrid fitness platform FitLab has closed its Series A financing, bringing total capital raised to
Boutique chain Trib3 will become one of the first fitness operators to establish a presence
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Precor UK
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Fitness On Demand
Fitness On Demand
1 - 20 of 12,130
HCM Magazine
Supplier showcase
Premier Gym + Fitness, based in Newton Abbot, Devon, has opened its doors to the public thanks to the help and support of Pulse Fitness
HCM Magazine
Sponsored
Leisure operators should embrace activity to engage members says Jenny Patrickson, managing director of Active IQ
HCM Magazine
Sponsored
Fitronics’ new member journey software is supporting the University of Oxford in improving its services for users
HCM Magazine
Flooring
As we wrap up 2021, flooring suppliers share their most exciting projects and launches from the past year
HCM Magazine
Research
Exercise has been found to power up the body’s production of endocannabinoids and reduce chronic inflammation, explains Tom Walker
HCM Magazine
Everyone’s talking about
Despite the renewed interest in health, a proportion of people remain nervous about going back to health clubs because of infection levels in the wider community. Would making adjustments to pricing help overcome these barriers? Kath Hudson investigates
HCM Magazine
Letters
Fuel the debate about issues and opportunities across the industry. We’d love to hear from you – [email protected]
HCM Magazine
HCM magazine
HCM People

Alex Nicholl

MD, Sweat by BXR
We were fortunate to be approached by Sheikh Mohammed – a Qatari entrepreneur – to develop the club
HCM magazine
New research from tech firm Mindbody gives insights into the state of the US health and fitness market, as Lauren McAlister reports
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EuropeActive and the European Committee for Standardisation are launching new standards for a wide range of health club operations, as Cliff Collins explains
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Randy Hetrick

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Featured supplier news
Featured supplier news: Quoox throws down the gauntlet in fitness software arena
An increasing number of gym and studio owners are realising that the days of them needing six, eight or 10 pieces of expensive, disjointed and barely adequate software to operate their business is a thing of the past.
Featured supplier news
Featured supplier news: Connected Health & Fitness Summit scheduled for March 2022
Covid-19 has accelerated digital transformation within the fitness industry, and there isn’t a fitness brand or business that hasn’t been forced to adapt or pivot to digital.
Featured operator news
Featured operator news: Double Olympic Champion Rebecca Adlington breaks ground ahead of new Rainham Leisure Centre
Everyone Active has got the New Year off to a flying start as it begins work on the brand new Rainham Leisure Centre.
Featured operator news
Featured operator news: Innovative experience TAGactive launched at Everyone Active
Everyone Active opened its first TAGactive Arena at Lammas Leisure Centre on Bank Holiday Monday, January 3.
Video Gallery
Mindbody, Inc
Total Vibration Solutions / Floors 4 Gyms / TVS Sports Surfaces
Sport Alliance GmbH
Company profiles
Company profile: Mediana Co., Ltd.
Mediana specialises in the manufacture of medical and health care devices, such as body composition ...
Company profiles
Company profile: Technogym UK Ltd
Technogym offers a complete ecosystem of connected smart equipment, digital services, on-demand training experiences and ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Management software
Premier Software Solutions: Management software
Spa software
SpaBooker: Spa software
Architects/designers
Zynk Design Consultants: Architects/designers
Wearable technology solutions
MyZone: Wearable technology solutions
Whole body cryotherapy
Art of Cryo: Whole body cryotherapy
On demand
Fitness On Demand: On demand
Skincare
Comfort Zone - Davines S.p.A: Skincare
trade associations
International SPA Association - iSPA: trade associations
Salt therapy products
Saltability: Salt therapy products
Lockers/interior design
Crown Sports Lockers: Lockers/interior design
Property & Tenders
Bilborough, Nottingham
Bilborough College
Property & Tenders
Welwyn Garden City
Welwyn Hatfield Borough Council
Property & Tenders
Diary dates
01-03 Feb 2022
Coventry Building Society Arena, Coventry, United Kingdom
Diary dates
01 Mar 2022
Live Love Spa HQ, Tustin, United States
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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