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Les Mills International
Les Mills International
Les Mills International
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UNITING THE WORLD OF FITNESS
Health Club Management

Health Club Management

News

KSL deal means Third Space can be bold in its strategy and ambitions Waggett tells HCM

The deal which saw KSL Capital Partners acquire a majority interest in Third Space was "two years in the making"
Colin Waggett said the move was "not a rushed partnership"
Waggett was speaking exclusively to HCM
Third Space plans for "substantial expansion" following the deal

Colin Waggett has revealed that the recent deal, which saw KSL Capital Partners acquire a majority interest in luxury health club operator Third Space, had been in planning for two years.

Speaking exclusively to HCM in the current (8/2021) issue of the magazine, Waggett said the deal was not done in a hurry and is a strategic move which will result in 'substantial expansion'.

"We first started talking to KSL over two years ago, so this was not a rushed partnership," Waggett said.

"KSL has a vision statement which is 'to invest in the unforgettable to create the enduring'. I really like that. They’re a leisure-only investor and work primarily in the luxury segment.

"They really understand that customer experience is at the heart of businesses like ours.

"In short, they have relevant expertise, their values align with ours and they believe in what we’re doing.

"It’s also great that our long-term backer, Encore Capital, has remained invested. This reflects their confidence and belief in what we do.

"The deal gives us a partner with deep leisure experience and funding. Taken together this means we can be bold in our strategy and our ambition."

Launched in 2001, Third Space currently operates a portfolio of six clubs.

Confirmed new openings include a seventh site, set to open in late 2021, at the heart of Mayfair at Number One Curzon St.

• To read the full article and to learn more about Third Space's plans, click here for the 8/2021 issue of HCM.

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
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HCM People

Colin Waggett

CEO, Third Space
We first started talking to KSL over two years ago, so this was not a rushed partnership
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Diary dates
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07-10 Apr 2022
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Diary dates
15-16 Jun 2022
ExCeL London, London, United Kingdom
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates

News

KSL deal means Third Space can be bold in its strategy and ambitions Waggett tells HCM

The deal which saw KSL Capital Partners acquire a majority interest in Third Space was "two years in the making"
Colin Waggett said the move was "not a rushed partnership"
Waggett was speaking exclusively to HCM
Third Space plans for "substantial expansion" following the deal

Colin Waggett has revealed that the recent deal, which saw KSL Capital Partners acquire a majority interest in luxury health club operator Third Space, had been in planning for two years.

Speaking exclusively to HCM in the current (8/2021) issue of the magazine, Waggett said the deal was not done in a hurry and is a strategic move which will result in 'substantial expansion'.

"We first started talking to KSL over two years ago, so this was not a rushed partnership," Waggett said.

"KSL has a vision statement which is 'to invest in the unforgettable to create the enduring'. I really like that. They’re a leisure-only investor and work primarily in the luxury segment.

"They really understand that customer experience is at the heart of businesses like ours.

"In short, they have relevant expertise, their values align with ours and they believe in what we’re doing.

"It’s also great that our long-term backer, Encore Capital, has remained invested. This reflects their confidence and belief in what we do.

"The deal gives us a partner with deep leisure experience and funding. Taken together this means we can be bold in our strategy and our ambition."

Launched in 2001, Third Space currently operates a portfolio of six clubs.

Confirmed new openings include a seventh site, set to open in late 2021, at the heart of Mayfair at Number One Curzon St.

• To read the full article and to learn more about Third Space's plans, click here for the 8/2021 issue of HCM.

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
Related news

KSL acquires majority stake in Third Space ahead of 'substantial expansion'

06 Aug 2021
KSL Capital Partners has acquired a majority interest in luxury health club operator Third Space ...

Third Space opens sixth club in Islington – features new Little Space kids' concept

29 Jan 2020
The Third Space has opened its sixth full-service club in Islington, London. Located at the ...

News

Hotel giant Accor has launched a new bespoke, premium fitness service for its upmarket Pullman
People should concentrate on exercise and staying fit – rather than dieting and weight loss
Sibec Europe, scheduled to take place in Cologne, Germany, from 2 to 5 November 2021,
Swim England has warned that 2,000 swimming pools could be lost forever unless the government
Sports Minister, Nigel Huddleston, has joined gym-goers this morning to kick-off the annual National Fitness
A new high-end workspace, designed for the use of personal trainers, coaches and other health
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VAT reform, adjustments in business rates and a fitness-led high street regeneration push could see
Peloton has completed the merging of its commercial operations with Precor, the equipment brand it
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HCM Magazine
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HCM Magazine
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Dr Davina Deniszczyc talks us through the findings of the first Nuffield Healthier Nation Index, which has benchmarked activity levels and attitudes to exercise among the UK population
HCM Magazine
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HCM Magazine
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Fuel the debate about issues and opportunities across the industry. We’d love to hear from you – [email protected]
HCM magazine
HCM People

Colin Waggett

CEO, Third Space
We first started talking to KSL over two years ago, so this was not a rushed partnership
HCM magazine
The Gym Group has taken its digital hybrid strategy full circle, piloting in-gym workout pods and studios with its home workout delivery partner, Fiit. HCM talks to the team driving the project
HCM magazine
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HCM magazine
HCM people

David Beckham

Global partner, F45
This partnership with F45 is an exciting business venture for me
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Featured supplier news
Featured supplier news: Technogym awarded “Supplier of the year” at ukactive awards 2021
The best in class of the physical activity sector have been revealed at the ukactive Awards 2021.
Featured supplier news
Featured supplier news: Shipping gym equipment from Europe to the UK
Despite the Prime Minister’s claims that trade with the EU would be tariff-free post-Brexit, the reality has become very different when importing gym equipment from the EU.
Featured operator news
Featured operator news: Everyone Active bolsters Everyone on Demand and enters second year with five new partnerships
Everyone Active has signed a number of new deals which will see the operator strengthen its digital product offering, Everyone on Demand.
Featured operator news
Featured operator news: Being active helps Parkwood Leisure customers save the NHS £16m
Parkwood Leisure, one of the UK’s leading public leisure facilities operators, helped prevent more than 7,000 cases of stroke, dementia, depression and type 2 diabetes in 2019, saving the NHS £16 million, a new social value report has shown.
Company profiles
Company profile: Core Health & Fitness
Core Health & Fitness offers the commercial health and fitness club marketplace an unmatched portfolio ...
Company profiles
Company profile: Mediana Co., Ltd.
Mediana specialises in the manufacture of medical and health care devices, such as body composition ...
Supplier Showcases
Supplier showcase - Gympass
Catalogue Gallery
Click on a catalogue to view it online
Directory
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Uniforms
Service Sport: Uniforms
Architects/designers
Zynk Design Consultants: Architects/designers
Wearable technology solutions
MyZone: Wearable technology solutions
Exercise equipment
Power Plate: Exercise equipment
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Lockers/interior design
Safe Space Lockers Ltd: Lockers/interior design
Management software
Premier Software Solutions: Management software
Salt therapy products
Saltability: Salt therapy products
Red Light Therapy
 Red Light Rising: Red Light Therapy
Property & Tenders
Welwyn Garden City
Welwyn Hatfield Borough Council
Property & Tenders
Newport, Shropshire
Lilleshall Sports Academy
Property & Tenders
Diary dates
13-14 Oct 2021
Online,
Diary dates
01-03 Feb 2022
Coventry Building Society Arena, Coventry, United Kingdom
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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Les Mills International
Les Mills International