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Les Mills
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

SoulCycle announces plans for IPO

Another day, another US fitness IPO. Following the news this week that budget chain Planet Fitness is to go public, US-based boutique cycling studio operator SoulCycle has confirmed it too will float on the stock market.

Yesterday’s (July 30) filing with US regulators came after weeks of speculation that SoulCycle would become the latest fitness company to undergo a public offering. Wall Street has shown an appetite for health and fitness floatations through both the warm reception to the Planet Fitness news and the staggering response to Fitbit’s listing earlier this year, when shares jumped 60 per cent on opening.

SoulCycle has gained a cult following in the US, enhanced by celebrity fans such as David Beckham and Tom Cruise. The boutique offering has around 40 US studios with a heavy focus on New York, and is expected to operate up to 60 clubs worldwide by 2016.

In addition to its popular classes, the company also has a retail clothing line, the popularity of which helped SoulCycle increase net income by about 42 per cent to US$25.3m (€23m, £16m) in 2014.

In its filing on Thursday, the company outlined a nominal fundraising target of US$100m (€91m, £64m), although this could change. It also did not specify how many shares the company planned to sell, the expected price or the exchange on which it intends to list its shares.

Founded in 2006 by former real estate broker Elizabeth Cutler and former talent agent Julie Rice, the pair reportedly sold a majority stake to Equinox Holdings – owned by real estate firm Related Cos and buyout firm Leonard Green & Partners LP – earlier this year.

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Another day, another US fitness IPO. Following the news this week that budget chain Planet Fitness is to go public, US-based boutique cycling studio operator SoulCycle has confirmed it too will float on the stock market.
HAF,FIT,IND,SAB,CAS
812188_997079.jpg
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News

SoulCycle announces plans for IPO

Another day, another US fitness IPO. Following the news this week that budget chain Planet Fitness is to go public, US-based boutique cycling studio operator SoulCycle has confirmed it too will float on the stock market.

Yesterday’s (July 30) filing with US regulators came after weeks of speculation that SoulCycle would become the latest fitness company to undergo a public offering. Wall Street has shown an appetite for health and fitness floatations through both the warm reception to the Planet Fitness news and the staggering response to Fitbit’s listing earlier this year, when shares jumped 60 per cent on opening.

SoulCycle has gained a cult following in the US, enhanced by celebrity fans such as David Beckham and Tom Cruise. The boutique offering has around 40 US studios with a heavy focus on New York, and is expected to operate up to 60 clubs worldwide by 2016.

In addition to its popular classes, the company also has a retail clothing line, the popularity of which helped SoulCycle increase net income by about 42 per cent to US$25.3m (€23m, £16m) in 2014.

In its filing on Thursday, the company outlined a nominal fundraising target of US$100m (€91m, £64m), although this could change. It also did not specify how many shares the company planned to sell, the expected price or the exchange on which it intends to list its shares.

Founded in 2006 by former real estate broker Elizabeth Cutler and former talent agent Julie Rice, the pair reportedly sold a majority stake to Equinox Holdings – owned by real estate firm Related Cos and buyout firm Leonard Green & Partners LP – earlier this year.

Sign up for FREE ezines & magazines
Another day, another US fitness IPO. Following the news this week that budget chain Planet Fitness is to go public, US-based boutique cycling studio operator SoulCycle has confirmed it too will float on the stock market.
HAF,FIT,IND,SAB,CAS
812188_997079.jpg

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With the first of a planned 105 clubs across the UK and Ireland up and running, UFC GYM turned to the expertise of DFC to ensure a simpler membership process for members
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Pulse Fitness has installed a premium fitness facility at The University of Liverpool, fitting the space with its state-of-the-art equipment to appeal to staff and students alike
Features
Circuits
Circuits are a powerful way to deliver a controlled and effective workout to people of a range of abilities in a short time frame. HCM reviews some of the leading systems
Features
Supplier showcase
Northumbria University has partnered with Matrix Fitness to fit out its newly refurbished sports centre and gym, using the latest in fitness technology to motivate members
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José Teixeira

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People often assume that those who pay more stay longer, but we don’t see this. What we see is that if you have PT you stay longer because you use more, not because you pay more
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