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Active IQ
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UNITING THE WORLD OF FITNESS
Health Club Management

Health Club Management

News

Soho Gyms shrugs off takeover speculation to focus on growth

London-based fitness chain Soho Gyms has moved to draw a line under speculation of a potential takeover by outlining plans to develop its existing portfolio, as well as its fledgling budget offering.

The eight-strong chain of London gyms, which was founded in 1994 by current chair Jeremy Norman, had been linked to several investors, with reports suggesting Sports Direct Fitness may have been lining up a bid as it seeks a stronger foothold in the southeast.

However, no such deal was reached and Soho Gyms has now moved to reiterate its commitment to focusing on operations. The chain’s newest gym, Farringdon, will shortly undergo a refurbishment and expansion, while sister brand Budget Gym is currently scaling up its low cost offering in Lewisham.

“We have an exciting plan for further investment in the group for the future, both within and outside of our existing portfolio,” said managing director and shareholder Michael Crockett.

“Whilst our shareholders were happy to listen to interested parties in order to accelerate our growth, the business, like our members, is in great shape, is financially strong and continues to grow. We remain committed to providing our growing membership with excellent facilities and customer service. Watch this space.”

With its extensive property footprint in prominent London locations, it’s easy to see why operators and investors would be interested in the business. According to filings at Companies House, Soho Gyms’ holding company Ovalhouse made a pre-tax profit of £611,000 last year, on sales of £8.02m.

London-based fitness chain Soho Gyms has moved to draw a line under speculation of a potential takeover by outlining plans to develop its existing portfolio, as well as its fledgling budget offering.
HAF,FIT,IND,PHR
261109-soho-gyms.gif
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News

Soho Gyms shrugs off takeover speculation to focus on growth

London-based fitness chain Soho Gyms has moved to draw a line under speculation of a potential takeover by outlining plans to develop its existing portfolio, as well as its fledgling budget offering.

The eight-strong chain of London gyms, which was founded in 1994 by current chair Jeremy Norman, had been linked to several investors, with reports suggesting Sports Direct Fitness may have been lining up a bid as it seeks a stronger foothold in the southeast.

However, no such deal was reached and Soho Gyms has now moved to reiterate its commitment to focusing on operations. The chain’s newest gym, Farringdon, will shortly undergo a refurbishment and expansion, while sister brand Budget Gym is currently scaling up its low cost offering in Lewisham.

“We have an exciting plan for further investment in the group for the future, both within and outside of our existing portfolio,” said managing director and shareholder Michael Crockett.

“Whilst our shareholders were happy to listen to interested parties in order to accelerate our growth, the business, like our members, is in great shape, is financially strong and continues to grow. We remain committed to providing our growing membership with excellent facilities and customer service. Watch this space.”

With its extensive property footprint in prominent London locations, it’s easy to see why operators and investors would be interested in the business. According to filings at Companies House, Soho Gyms’ holding company Ovalhouse made a pre-tax profit of £611,000 last year, on sales of £8.02m.

London-based fitness chain Soho Gyms has moved to draw a line under speculation of a potential takeover by outlining plans to develop its existing portfolio, as well as its fledgling budget offering.
HAF,FIT,IND,PHR
261109-soho-gyms.gif

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For years the health and fitness sector has aspired to be taken seriously by the health sector. Is now the time? asks Kath Hudson
HCM Magazine
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A new report, conducted by Deloitte, analyses the growth of the Chinese fitness industry and the outlook ahead, as Kristen Walsh reports
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We talk to Dave Wright, CEO of Myzone, about the world’s first interchangeable heart rate monitor that provides real-time feedback – and the impact of COVID-19
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The UK’s first dedicated leisure development framework has completed its first four-year term with £144m committed investment in public leisure projects.
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Featured supplier news
Featured supplier news: Engaging smart technology helps gyms and fitness professionals get their leading role back
Safety, quality of service, and member engagement are key in order to offer a unique fitness experience that will boost the re-start.
Featured supplier news
Featured supplier news: iFit: your readymade omnichannel fitness solution
With gyms and leisure centres in England reopened, and the rest of the UK due to shortly follow suit, the time for being theoretical is over.
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Company profile: Precor
For more than 35 years, Precor has driven fitness forward. We continue that heritage every ...
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Crown Sports Lockers has designed, crafted and fitted bespoke timber furniture for spas, hotels and ...
Supplier Showcases
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Catalogue Gallery
Click on a catalogue to view it online
Directory
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Red Light Therapy
 Red Light Rising: Red Light Therapy
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Lockers/interior design
Fitlockers: Lockers/interior design
Wearable technology solutions
MyZone: Wearable technology solutions
Management software
fibodo Limited: Management software
Exercise equipment
Pendex Fisio S.L.: Exercise equipment
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Spa software
SpaBooker: Spa software
Architects/designers
Zynk Design Consultants: Architects/designers
Property & Tenders
Diary dates
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Diary dates
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Diary dates
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Diary dates
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Active IQ
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