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Health Club Management

Health Club Management

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UNITING THE WORLD OF FITNESS
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Health Club Management

Health Club Management

News

Pure Gym negotiates additional £150m liquidity

This additional £150m of new capital boosts the total liquidity to which the business has access to £297.0m and will act as a substantial buffer to both handle any further enforced closures and continue our expansion
– Humphrey Cobbold

PureGym has secured a £100m cash injection from shareholders to help deal with both the opportunities and threats posed by COVID-19. The move takes its borrowings to around £480m.

The budget operator said the additional cash – mainly from Leonard Green Partners – will be used to bolster its balance sheet so it can continue to develop and open new gyms when the right opportunities arise.

Pure Gym has also agreed to increase commitments under its revolving credit facility by £50m.

"This additional £150m of new capital boosts the total liquidity to which the business has access to £297m and will act as a substantial buffer to both handle any further enforced closures and continue our expansion," said CEO Humphrey Cobbold.

"Health and wellbeing have never been more important, and our scale and affordable, accessible proposition position us well to improve the health of people in all the countries where we operate," he said.

Earlier this year, Pure Gym said that, while Q2 performance had been "significantly impacted by COVID-19 closures", its swift management action and geographical diversity protected liquidity and cashflow.

Kris Galashan, Partner at Leonard Green Partners, said: "The management team at PureGym did an outstanding job guiding the business through unprecedented market conditions. This journey has underscored the business’s ability to withstand an extreme market shock.

"The PureGym Group is emerging as one of a handful of fitness businesses with global reach, sophisticated technology and yield management capability.

"The pandemic has reinforced the trend to health and the PureGym Group is excellently placed to provide facilities and services that benefit members and, in turn, societies. We are proud to be increasing our investment and playing our part at this challenging time and we look forward to supporting the business through its ongoing growth and expansion.”

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
PureGym has secured a £100m cash injection from shareholders to help deal with both the opportunities and threats posed by COVID-19.
HAF,FIT,IND,PTS
2020/THUMB346240_559777_139038.jpg
Latest News
Europe's largest gym chain, Basic-Fit, has published its trading update for the first nine months ...
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Boutique operator, The Refinery E9, has launched a personal trainer (PT) service with a twist, ...
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Mid Ulster District Council (MUDC) in Northern Ireland has won a landmark VAT case, which ...
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EuropeActive's David Stalker and Jack Shakespeare from ukactive write to HCM
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People
It felt as though we were building a new business
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I think the cost of financing the Fitness World deal was more than compensated for by the £20m Fitness World brought in while the UK gyms were closed
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HCM people

Keith Burnet

CEO global markets, Les Mills
I wanted to do something to inspire others and encourage them to believe that no matter what age you are, anything is possible
Opinion
promotion
In a post-Covid world, member experience is more important than ever before. Your customers’ expectations have been heightened as the coronavirus continues to dominate our everyday lives.
Opinion: Why member experience is more important now than ever before
Opinion
promotion
Our world has changed since March and together, we are learning and adapting to how this sector can continue to thrive in this COVID conscious world.
Opinion: Why fitness clubs and facilities need to evolve in a COVID-conscious world
Featured supplier news
Featured supplier: Premier Software Solutions offers scalable software for single or multi-site businesses
Premier Software Solutions' flagship business management system, Core by Premier Software, is the leading single and multi-site solution designed specifically for the spa, wellness and leisure industries.
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Video Gallery
Temple Gym - Nautilus Equipment
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Temple Gym - Nautilus Equipment Read more
More videos:
Company profiles
Company profile: Hedgehog Concept Ltd
Ground breaking leisure and fitness club management software. Software that has incisive focus on the ...
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Company profile: Les Mills UK
Committed to creating a fitter planet, Les Mills UK works with clubs and instructors to ...
Supplier Showcases
Supplier showcase - Ultimate locker install
Catalogue Gallery
Click on a catalogue to view it online
Directory
Gym flooring
REGUPOL/Berleburger Schaumstoffwerk (BSW): Gym flooring
Direct debit solutions
Harlands Group: Direct debit solutions
Red Light Therapy
 Red Light Rising: Red Light Therapy
Whole body cryotherapy
Art of Cryo: Whole body cryotherapy
Spa software
SpaBooker: Spa software
Design consultants
Zynk Design Consultants: Design consultants
Management software
fibodo Limited: Management software
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Lockers/interior design
Safe Space Lockers Ltd: Lockers/interior design
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Property & Tenders
11 - 25 Union St, London SE1 1SD
Bankside Open Spaces Trust
Property & Tenders
Waltham Abbey, Essex
Lee Valley Regional Park Authority
Property & Tenders
Diary dates
03-06 Nov 2020
Online,
Diary dates
12 Nov 2020
Virtual, United States
Diary dates
17 Nov 2020
Loughborough University, Loughborough, United Kingdom
Diary dates
27-28 Nov 2020
Athena, Leicester, United Kingdom
Diary dates
03-03 Dec 2020
Virtual,
Diary dates
08-09 Dec 2020
Raffles City Convention Centre, Singapore, Singapore
Diary dates
02-04 Feb 2021
Ericsson Exhibition Hall, Ricoh Arena, Coventry, United Kingdom
Diary dates
23-26 Feb 2021
IFEMA, Madrid, Spain
Diary dates
03-04 Mar 2021
NEC, Birmingham, United Kingdom
Diary dates
03-06 Jun 2021
Expo Centre & Riviera di Rimini, Italy
Diary dates
16-17 Jun 2021
ExCeL London, London, United Kingdom
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates

News

Pure Gym negotiates additional £150m liquidity

This additional £150m of new capital boosts the total liquidity to which the business has access to £297.0m and will act as a substantial buffer to both handle any further enforced closures and continue our expansion
– Humphrey Cobbold

PureGym has secured a £100m cash injection from shareholders to help deal with both the opportunities and threats posed by COVID-19. The move takes its borrowings to around £480m.

The budget operator said the additional cash – mainly from Leonard Green Partners – will be used to bolster its balance sheet so it can continue to develop and open new gyms when the right opportunities arise.

Pure Gym has also agreed to increase commitments under its revolving credit facility by £50m.

"This additional £150m of new capital boosts the total liquidity to which the business has access to £297m and will act as a substantial buffer to both handle any further enforced closures and continue our expansion," said CEO Humphrey Cobbold.

"Health and wellbeing have never been more important, and our scale and affordable, accessible proposition position us well to improve the health of people in all the countries where we operate," he said.

Earlier this year, Pure Gym said that, while Q2 performance had been "significantly impacted by COVID-19 closures", its swift management action and geographical diversity protected liquidity and cashflow.

Kris Galashan, Partner at Leonard Green Partners, said: "The management team at PureGym did an outstanding job guiding the business through unprecedented market conditions. This journey has underscored the business’s ability to withstand an extreme market shock.

"The PureGym Group is emerging as one of a handful of fitness businesses with global reach, sophisticated technology and yield management capability.

"The pandemic has reinforced the trend to health and the PureGym Group is excellently placed to provide facilities and services that benefit members and, in turn, societies. We are proud to be increasing our investment and playing our part at this challenging time and we look forward to supporting the business through its ongoing growth and expansion.”

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
PureGym has secured a £100m cash injection from shareholders to help deal with both the opportunities and threats posed by COVID-19.
HAF,FIT,IND,PTS
2020/THUMB346240_559777_139038.jpg

News

Europe's largest gym chain, Basic-Fit, has published its trading update for the first nine months
Boutique operator, The Refinery E9, has launched a personal trainer (PT) service with a twist,
Gains made getting people more physically active over the last few years were all but
Mid Ulster District Council (MUDC) in Northern Ireland has won a landmark VAT case, which
The government has pledged to invest £100m in supporting public leisure centres this winter, as
Gyms in Liverpool,UK, have been given the go-ahead to reopen, following a dramatic week of
Miha Bodytec GmbH
Miha Bodytec GmbH
Premier Software Solutions' flagship business management system, Core by Premier Software, is the leading single
Be Military Fit (BMF) has completed a restructuring project, designed to transform the outdoor fitness
Rod Hill, former president of TRIB3 and director general of Anytime Fitness Iberia, has signed
Persistent and rising levels of lifestyle disease across the world have exacerbated the effects of
Customer experience software provider, AskNicely, has announced it will host a new virtual event called
In breaking news, HCM understands the UK government has removed gyms and fitness facilities from
Globally, gyms have, on average, seen nearly 70 per cent of their pre-lockdown members return
MyZone Group Ltd
MyZone Group Ltd
Power Plate, the global leader in whole-body vibration training equipment, is encouraging its community to
A UK government U-turn – just announced – will see gyms and leisure centres staying open
"Dozens" of gyms in Liverpool, UK, have defied the government and stayed open for business
The UK government is likely to face legal challenges from gym operators following the revelation
AskNicely
AskNicely
1 - 15 of 11,650
Features
Rehab
The opportunity exists now to demonstrate the ability of the fitness industry to make a tangible difference. To have a bigger conversation
Features
feature
As winter draws nearer in the north of the world, it’s time to set your members up for their indoor workouts by taking advantage of the latest developments in indoor cycling
Features
Supplier showcase
Volution worked with Anytime Fitness Asia to enable the company to minimise the impact of the pandemic
Features
feature
Active IQ optimised lockdown to create new opportunities for students and stakeholders
Features
feature
We look at how you can unlock hidden value in your operation with a complete end-to-end leisure management solution
Features
feature
HIIT Without the Hurt. It’s one of the most memorable straplines in the fitness industry and it’s been at the core of every Speedflex session for almost ten years
Features
Letters
EuropeActive's David Stalker and Jack Shakespeare from ukactive write to HCM
Features
People
It felt as though we were building a new business
People
I think the cost of financing the Fitness World deal was more than compensated for by the £20m Fitness World brought in while the UK gyms were closed
People
HCM people

Keith Burnet

CEO global markets, Les Mills
I wanted to do something to inspire others and encourage them to believe that no matter what age you are, anything is possible
People
Our facility isn’t for everyone. In daring to be different, we’re attracting people willing to commit to a fresh way of approaching health and fitness
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The reopening of the industry, encouraging confidence in consumers and maintaining business is a collective responsibility
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HCM people

Dr Darshan Shah

Next Health: co-founder
Our vision is that health is not the absence of disease but the abundance of vitality
People
As you approach each studio, there’s an area of transition, setting the tone as you move from one space into another, recalibrating your senses. I call it Layers of Wow
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We’re getting high usage: typically 2,000 visits a day. We’ve already celebrated our millionth member visit
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I invite every organisation to become part of our consultation on workplace wellbeing, active ageing and long-term health conditions
People
Opinion
promotion
In a post-Covid world, member experience is more important than ever before. Your customers’ expectations have been heightened as the coronavirus continues to dominate our everyday lives.
Opinion: Why member experience is more important now than ever before
Opinion
promotion
Our world has changed since March and together, we are learning and adapting to how this sector can continue to thrive in this COVID conscious world.
Opinion: Why fitness clubs and facilities need to evolve in a COVID-conscious world
Featured supplier news
Featured supplier: Premier Software Solutions offers scalable software for single or multi-site businesses
Premier Software Solutions' flagship business management system, Core by Premier Software, is the leading single and multi-site solution designed specifically for the spa, wellness and leisure industries.
Featured supplier news
Featured supplier: Matrix takes its partnership with Renault Sport racing team up a gear
Matrix Fitness, the commercial brand of Johnson Health Tech, has announced the renewal of its long term partnership with the Renault F1 Team.
Video Gallery
Temple Gym - Nautilus Equipment
Core Health & Fitness
Temple Gym - Nautilus Equipment Read more
More videos:
Company profiles
Company profile: Hedgehog Concept Ltd
Ground breaking leisure and fitness club management software. Software that has incisive focus on the ...
Company profiles
Company profile: Les Mills UK
Committed to creating a fitter planet, Les Mills UK works with clubs and instructors to ...
Supplier Showcases
Supplier showcase - Ultimate locker install
Catalogue Gallery
Click on a catalogue to view it online
Directory
Gym flooring
REGUPOL/Berleburger Schaumstoffwerk (BSW): Gym flooring
Direct debit solutions
Harlands Group: Direct debit solutions
Red Light Therapy
 Red Light Rising: Red Light Therapy
Whole body cryotherapy
Art of Cryo: Whole body cryotherapy
Spa software
SpaBooker: Spa software
Design consultants
Zynk Design Consultants: Design consultants
Management software
fibodo Limited: Management software
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Lockers/interior design
Safe Space Lockers Ltd: Lockers/interior design
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Property & Tenders
11 - 25 Union St, London SE1 1SD
Bankside Open Spaces Trust
Property & Tenders
Waltham Abbey, Essex
Lee Valley Regional Park Authority
Property & Tenders
Diary dates
03-06 Nov 2020
Online,
Diary dates
12 Nov 2020
Virtual, United States
Diary dates
17 Nov 2020
Loughborough University, Loughborough, United Kingdom
Diary dates
27-28 Nov 2020
Athena, Leicester, United Kingdom
Diary dates
03-03 Dec 2020
Virtual,
Diary dates
08-09 Dec 2020
Raffles City Convention Centre, Singapore, Singapore
Diary dates
02-04 Feb 2021
Ericsson Exhibition Hall, Ricoh Arena, Coventry, United Kingdom
Diary dates
23-26 Feb 2021
IFEMA, Madrid, Spain
Diary dates
03-04 Mar 2021
NEC, Birmingham, United Kingdom
Diary dates
03-06 Jun 2021
Expo Centre & Riviera di Rimini, Italy
Diary dates
16-17 Jun 2021
ExCeL London, London, United Kingdom
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates
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