GET HCM
magazine
Sign up for the FREE digital edition of HCM magazine and also get the HCM ezine and breaking news email alerts.
Not right now, thanksclose this window
JP Lennard
JP Lennard
JP Lennard
Follow Health Club Management on Twitter Like Health Club Management on Facebook Join the discussion with Health Club Management on LinkedIn Follow Health Club Management on Instagram
UNITING THE WORLD OF FITNESS
Health Club Management

Health Club Management

News

The Gym Group buys up most of easyGym as it pivots to franchising

This acquisition accelerates our expansion plans for 2018, as we advance towards our goal of 200 gyms by 2020
– John Treharne

The Gym Group is to buy 13 sites from easyGym in a deal worth £20.6m, with an additional £4.1 million being paid once lease extensions are agreed on two of the sites.

easyGym currrently has 16 locations, with another under development.

Speaking to Health Club Management magazine in March this year, easyGym CEO Paul Lorimer-Wing announced the company would pivot to a franchise model and target overseas expansion, with the aim of being in 10 countries by 2020 saying: "Through franchising, we want easyGym to become the leading big box, low-cost gym brand in the world by number of countries.”

The Gym Group acquisition will be part-funded by a £24m equity placing and part from the company’s banking facilities, with the deal expected to complete by 20 July.

Gym Group CEO, John Treharne said: “The easyGym portfolio of 13 well-invested gyms is highly complementary to our existing estate. We’re confident they will integrate quickly and easily into our business while enhancing our position in the low-cost market in London and extending our spread across the UK.

“We have a significant opportunity to increase each gym’s membership through a focus on member service, investment in facilities and through offering our premium pricing proposition – LIVE IT.

“This acquisition accelerates our expansion plans for 2018, as we advance towards our goal of 200 gyms by 2020,” he concluded.

The deal will give the Gym Group the opportunity to increase membership numbers, as easyGym’s current average levels are running at 4,850 members per site, against 5,477 for the Gym Group’s mature locations.

Eight of the sites are in London, with the remainder around the country. The locations being acquired had site EBITDA (excluding central costs) of £4.3 million in the 12 months to 31 March 2018, with revenues of £12.9 million.

The two sites requiring lease extensions will have the right to continue to use the easyGym brand, with the other 11 sites being rebranded.

The company says "post-conversion maturity" will be reached in a "shorter timeframe" than with a new-build, with conversions expected to cost £275,000 per location – lower than the recently acquired Lifestyle sites, which have been costing £470,000 per location. The Gym Group is anticipating a 20 per cent return on capital at maturity.

easyGym staff are expected to transfer to the Gym Group

If the acquisition falls through, the Gym Group says it will retain the proceeds of the placing for potential investment opportunities.

John Treharne announced recently he will hand over the CEO role to CFO Richard Darwin and take on a non-exec role. The transition will happen in September this year.

Read Health Club Management's recent interview with John Treharne here

The Gym Group is to buy 13 sites from easyGym in a deal worth £20.6m, with an additional £4.1 million being paid once lease extensions are agreed on two of the sites.
HAF
THUMB27271_414480.jpg
Latest News
A new open water swimming venue will has been launched in the heart of Canary ...
Latest News
Peter Roberts, former CEO and founder of Pure Gym, has invested in Another Round, a ...
Latest News
Fitness markets around the globe are demonstrating "reassuring signs of recovery" following the pandemic disruptions ...
Latest News
Mark Sesnan, CEO of GLL, has pushed back on Tower Hamlet Council’s decision to take ...
Latest News
Ohm Fitness, a new franchised studio concept, has opened its first location in Scottsdale, Arizona. ...
Latest News
Easton Leisure Centre in the UK has announced a 100 per cent reduction in heating ...
Latest News
The Gym Group saw its membership grow by 10 per cent during the first six ...
Latest News
Mindbody has announced that Fritz Lanman will become the company’s new CEO from 3 September ...
HCM Magazine
Letters
Fuel the debate about issues and opportunities across the industry. We’d love to hear from you – [email protected]
HCM Magazine
Sponsored
Ben Hackney-Williams, head of content at Myzone, shares tools to drive positive change in 2022
HCM Magazine
Gym floor
Small group training is growing ever more popular, driven by supply-side innovation and demand, as HCM’s Frances Marcellin discovers
HCM Magazine
Research
New Deloitte report finds the health and fitness sector contributes up to US$91.22bn* a year to global GDP, as Frances Marcellin reports
HCM Magazine
Sponsored
Technogym’s latest connected equipment offers members personalised cardio training experiences with fresh content provided by expert instructors
HCM Magazine
HCM People
HCM Magazine
Insight
After a hiatus due to the pandemic, LeisureDB has updated its State of the Fitness Industry Report for 2022, as David Minton reports
HCM Magazine
HCM magazine
HCM People

Shane Collins

Founder, Circuit Society
We want to be the global market leader in micro-studios
HCM magazine
Abi Harris talks to industry experts about ways operators can ensure members feel a continual sense of achievement and progression that keeps them coming back for more
HCM magazine
HCM People

Rainer Usselmann

Co-founder, Happy Finish
Digital therapeutics could offer digital-first wellness ‘prescriptions’, digital ‘treatments’ and curated content to alter mood and improve wellbeing
Featured supplier news
Featured supplier news: Good news for the fitness industry, a unique opportunity awaits gyms
In just over two years, the fitness industry has experienced major disruptions to gyms, a boom in at-home fitness and the return of in-person workouts.
Featured supplier news
Featured supplier news: Dr Paul Bedford and Andreas Paulsen to speak at Sibec Europe-UK
Questex’s Sibec Europe-UK, Europe’s leading hosted buyer event for the fitness industry, will take place on 27-30 September 2022 at the Anantara Vilamoura Algarve Resort, in Portugal.
Featured operator news
Featured operator news: New £42m Moorways Sports Village to open on 21 May
Everyone Active will open Moorways Sports Village to the public on Saturday 21 May with a grand opening weekend – in time for the half term holidays.
Featured operator news
Featured operator news: Parkwood Leisure celebrates four award wins and named Outstanding Organisation of the Year at the 2022 ukactive Awards
It was a night to remember at the 2022 ukactive Awards for Parkwood Leisure, as the leisure facilities operator picked up four awards.
Video Gallery
Mindbody, Inc
Sport Alliance GmbH
Total Vibration Solutions / Floors 4 Gyms / TVS Sports Surfaces
Company profiles
Company profile: Perfect Gym Solutions S.A.
Perfect Gym currently provides fitness software solutions to customers in 55+ countries, servicing more than ...
Company profiles
Company profile: Life Fitness
The Life Fitness family of brands offers an unrivalled product portfolio, providing customers with access ...
Supplier Showcases
Supplier showcase - Matrix Fitness: Rugby elite
Catalogue Gallery
Click on a catalogue to view it online
Featured press releases
Featured press releases: Parkwood Leisure Appoints New Strategic Director
Parkwood Leisure is delighted to announce that Andy Farr will be re-joining the business as Strategic Director from September 2022.
Featured press releases
Featured press releases: 1Life launch youth initiative to support budding athletes achieve their sporting dreams
1Life is supporting promising young athletes achieve their sporting dreams through free use of its public access facilities and support from two Team GB Olympic stars
Directory
Architects/designers
Zynk Design Consultants: Architects/designers
Skincare
Comfort Zone - Davines S.p.A: Skincare
Fitness equipment
A Panatta Sport Srl: Fitness equipment
Spa software
SpaBooker: Spa software
On demand
Fitness On Demand: On demand
Whole body cryotherapy
Zimmer MedizinSysteme GmbH / icelab: Whole body cryotherapy
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Lockers/interior design
Safe Space Lockers Ltd: Lockers/interior design
Salt therapy products
Himalayan Source: Salt therapy products
Management software
Premier Software Solutions: Management software
Property & Tenders
Pendine Sands, Carmarthenshire
Carmarthenshire County Council
Property & Tenders
Runcorn
Halton Borough Council
Property & Tenders
Diary dates
12-13 Sep 2022
Wyndham Lake Buena Vista Disney Springs® Resort, Lake Buena Vista, United States
Diary dates
21-21 Sep 2022
Various, London, United Kingdom
Diary dates
25-28 Oct 2022
Messe Stuttgart, Germany
Diary dates
25-28 Oct 2022
Ibiza, Ibiza, Spain
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates
17-18 Mar 2023
Tobacco Dock, London, United Kingdom
Diary dates

News

The Gym Group buys up most of easyGym as it pivots to franchising

This acquisition accelerates our expansion plans for 2018, as we advance towards our goal of 200 gyms by 2020
– John Treharne

The Gym Group is to buy 13 sites from easyGym in a deal worth £20.6m, with an additional £4.1 million being paid once lease extensions are agreed on two of the sites.

easyGym currrently has 16 locations, with another under development.

Speaking to Health Club Management magazine in March this year, easyGym CEO Paul Lorimer-Wing announced the company would pivot to a franchise model and target overseas expansion, with the aim of being in 10 countries by 2020 saying: "Through franchising, we want easyGym to become the leading big box, low-cost gym brand in the world by number of countries.”

The Gym Group acquisition will be part-funded by a £24m equity placing and part from the company’s banking facilities, with the deal expected to complete by 20 July.

Gym Group CEO, John Treharne said: “The easyGym portfolio of 13 well-invested gyms is highly complementary to our existing estate. We’re confident they will integrate quickly and easily into our business while enhancing our position in the low-cost market in London and extending our spread across the UK.

“We have a significant opportunity to increase each gym’s membership through a focus on member service, investment in facilities and through offering our premium pricing proposition – LIVE IT.

“This acquisition accelerates our expansion plans for 2018, as we advance towards our goal of 200 gyms by 2020,” he concluded.

The deal will give the Gym Group the opportunity to increase membership numbers, as easyGym’s current average levels are running at 4,850 members per site, against 5,477 for the Gym Group’s mature locations.

Eight of the sites are in London, with the remainder around the country. The locations being acquired had site EBITDA (excluding central costs) of £4.3 million in the 12 months to 31 March 2018, with revenues of £12.9 million.

The two sites requiring lease extensions will have the right to continue to use the easyGym brand, with the other 11 sites being rebranded.

The company says "post-conversion maturity" will be reached in a "shorter timeframe" than with a new-build, with conversions expected to cost £275,000 per location – lower than the recently acquired Lifestyle sites, which have been costing £470,000 per location. The Gym Group is anticipating a 20 per cent return on capital at maturity.

easyGym staff are expected to transfer to the Gym Group

If the acquisition falls through, the Gym Group says it will retain the proceeds of the placing for potential investment opportunities.

John Treharne announced recently he will hand over the CEO role to CFO Richard Darwin and take on a non-exec role. The transition will happen in September this year.

Read Health Club Management's recent interview with John Treharne here

The Gym Group is to buy 13 sites from easyGym in a deal worth £20.6m, with an additional £4.1 million being paid once lease extensions are agreed on two of the sites.
HAF
THUMB27271_414480.jpg

News

A new open water swimming venue will has been launched in the heart of Canary
Peter Roberts, former CEO and founder of Pure Gym, has invested in Another Round, a
Fitness markets around the globe are demonstrating "reassuring signs of recovery" following the pandemic disruptions
Mark Sesnan, CEO of GLL, has pushed back on Tower Hamlet Council’s decision to take
Ohm Fitness, a new franchised studio concept, has opened its first location in Scottsdale, Arizona.
Easton Leisure Centre in the UK has announced a 100 per cent reduction in heating
Fitness On Demand
Fitness On Demand
EGYM has announced an integration with a leading UK-based software company Fisikal to enhance its
The Gym Group saw its membership grow by 10 per cent during the first six
Mindbody has announced that Fritz Lanman will become the company’s new CEO from 3 September
Parkour Generations has joined forces with Gymbox to bring parkour into the UK’s mainstream fitness
Amazon has acquired primary healthcare organisation One Medical in a US$3.9bn deal that will see
Nearly half (47 per cent) of men employed by fitness companies work in leadership roles
Scandinavian fitness chain SATS has reported Q2 results showing a 53 per cent increase in
Les Mills
Les Mills
EGYM has been pioneering the connected gym floor for more than a decade, partnering with
The World Active Forum (WAF) – a new network of national fitness associations and organisations
Mark Wahlberg- and David Beckham-backed F45 Training has announced a reduction in its core workforce
Total Fitness says its membership numbers are back to pre-COVID-19 levels. With fifteen clubs in
Edinburgh’s new Meadowbank Sports Centre has opened after a five-year, £47m build which saw the
UK Active and Nike have launched the 2022 Open Doors programme. The scheme provides children
RSG Group has launched the flagship club for Heimat – the gym giant’s new fitness
Crown Sports Lockers
Crown Sports Lockers
Expert comment from Ernst De Neef, CEO, Funxtion In just over two years, the fitness
Twenty Four, a new automated gym and sports facility, where all equipment is self-powered, has
Community benefit society Leisure in the Community (LITC) and 1Life Leisure Management Solutions (1Life) have
1 - 20 of 12,300
HCM Magazine
Letters
Fuel the debate about issues and opportunities across the industry. We’d love to hear from you – [email protected]
HCM Magazine
Sponsored
Ben Hackney-Williams, head of content at Myzone, shares tools to drive positive change in 2022
HCM Magazine
Gym floor
Small group training is growing ever more popular, driven by supply-side innovation and demand, as HCM’s Frances Marcellin discovers
HCM Magazine
Research
New Deloitte report finds the health and fitness sector contributes up to US$91.22bn* a year to global GDP, as Frances Marcellin reports
HCM Magazine
Sponsored
Technogym’s latest connected equipment offers members personalised cardio training experiences with fresh content provided by expert instructors
HCM Magazine
HCM People
HCM Magazine
Insight
After a hiatus due to the pandemic, LeisureDB has updated its State of the Fitness Industry Report for 2022, as David Minton reports
HCM Magazine
HCM magazine
HCM People

Shane Collins

Founder, Circuit Society
We want to be the global market leader in micro-studios
HCM magazine
Abi Harris talks to industry experts about ways operators can ensure members feel a continual sense of achievement and progression that keeps them coming back for more
HCM magazine
HCM People

Rainer Usselmann

Co-founder, Happy Finish
Digital therapeutics could offer digital-first wellness ‘prescriptions’, digital ‘treatments’ and curated content to alter mood and improve wellbeing
HCM magazine
UK Active’s Alex Lucas explains the findings of a new report which shows how the fitness and leisure sector can help transform workforce activity levels in the new hybrid workplace
HCM magazine
The urgent need to represent the industry to governments globally has led to the commissioning of a new report into its impact on GDP by the Global Health and Fitness Alliance
HCM magazine
New research from Swinburne University of Technology in Melbourne has found that heart patients benefit from resistance training
HCM magazine
Ultimately, we want to become the number one fitness business in the UK and if the options came available, we’d consider going overseas
HCM magazine
HCM People

Dan Edwardes

CEO/founder Parkour Generations
Our partnership with Gymbox is a world first
HCM magazine
Do people get fitter working out in the gym or at home? Researcher Bryce Hastings explains the evidence when it comes to how they measure up
HCM magazine
Featured supplier news
Featured supplier news: Good news for the fitness industry, a unique opportunity awaits gyms
In just over two years, the fitness industry has experienced major disruptions to gyms, a boom in at-home fitness and the return of in-person workouts.
Featured supplier news
Featured supplier news: Dr Paul Bedford and Andreas Paulsen to speak at Sibec Europe-UK
Questex’s Sibec Europe-UK, Europe’s leading hosted buyer event for the fitness industry, will take place on 27-30 September 2022 at the Anantara Vilamoura Algarve Resort, in Portugal.
Featured operator news
Featured operator news: New £42m Moorways Sports Village to open on 21 May
Everyone Active will open Moorways Sports Village to the public on Saturday 21 May with a grand opening weekend – in time for the half term holidays.
Featured operator news
Featured operator news: Parkwood Leisure celebrates four award wins and named Outstanding Organisation of the Year at the 2022 ukactive Awards
It was a night to remember at the 2022 ukactive Awards for Parkwood Leisure, as the leisure facilities operator picked up four awards.
Video Gallery
Mindbody, Inc
Sport Alliance GmbH
Total Vibration Solutions / Floors 4 Gyms / TVS Sports Surfaces
Company profiles
Company profile: Perfect Gym Solutions S.A.
Perfect Gym currently provides fitness software solutions to customers in 55+ countries, servicing more than ...
Company profiles
Company profile: Life Fitness
The Life Fitness family of brands offers an unrivalled product portfolio, providing customers with access ...
Supplier Showcases
Supplier showcase - Matrix Fitness: Rugby elite
Catalogue Gallery
Click on a catalogue to view it online
Featured press releases
Featured press releases: Parkwood Leisure Appoints New Strategic Director
Parkwood Leisure is delighted to announce that Andy Farr will be re-joining the business as Strategic Director from September 2022.
Featured press releases
Featured press releases: 1Life launch youth initiative to support budding athletes achieve their sporting dreams
1Life is supporting promising young athletes achieve their sporting dreams through free use of its public access facilities and support from two Team GB Olympic stars
Directory
Architects/designers
Zynk Design Consultants: Architects/designers
Skincare
Comfort Zone - Davines S.p.A: Skincare
Fitness equipment
A Panatta Sport Srl: Fitness equipment
Spa software
SpaBooker: Spa software
On demand
Fitness On Demand: On demand
Whole body cryotherapy
Zimmer MedizinSysteme GmbH / icelab: Whole body cryotherapy
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Lockers/interior design
Safe Space Lockers Ltd: Lockers/interior design
Salt therapy products
Himalayan Source: Salt therapy products
Management software
Premier Software Solutions: Management software
Property & Tenders
Pendine Sands, Carmarthenshire
Carmarthenshire County Council
Property & Tenders
Runcorn
Halton Borough Council
Property & Tenders
Diary dates
12-13 Sep 2022
Wyndham Lake Buena Vista Disney Springs® Resort, Lake Buena Vista, United States
Diary dates
21-21 Sep 2022
Various, London, United Kingdom
Diary dates
25-28 Oct 2022
Messe Stuttgart, Germany
Diary dates
25-28 Oct 2022
Ibiza, Ibiza, Spain
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates
17-18 Mar 2023
Tobacco Dock, London, United Kingdom
Diary dates
Search news, features & products:
Find a supplier:
JP Lennard
JP Lennard
Partner sites