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fibodo Limited
fibodo Limited
fibodo Limited
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

Three in the running for ‘LA fitness takeover’

Pure Gym is the reported frontrunner in a three-horse race to buy LA fitness for £80m, with Fitness First and Sports Direct Fitness also in contention.

Pure Gym, which yesterday (30 March) announced bumper profits for 2014, is in “advanced” talks to acquire LA fitness, according to The Sunday Times. The paper cited City sources as saying any deal between the parties would be decided by the end of April.

When contacted by Health Club Management, both Pure Gym and Sports Direct Fitness declined to comment, while Fitness First did not immediately respond.

LA fitness last year appointed Canaccord Genuity to find new backers for the business – which comprises 44 sites nationwide. The chain has scaled down in recent years, shedding 33 clubs as part of its CVA (company Voluntary Arrangement) – with Pure Gym and Sport Direct Fitness having snapped up a large share of these. Despite the smaller portfolio, LA fitness possesses an enviable property footprint in London, where it has reported success with its new ‘premiumised’ LAX brand of clubs.

Speaking to Health Club Management in November, LA fitness CEO Martin Long said the main LA fitness shareholders are currently the banks that saw the chain through its CVA. He added: "They’ve been fantastic supporters, but they aren’t the long-term holders of the business."

Of the potential LA fitness suitors, Fitness First would be the most obvious bedfellow given that both chains see themselves as upper mid-market propositions. That said, Pure Gym has made no secret of its desire for a greater London presence, although how it would bridge potential pricing gaps remains to be seen. Pure Gym currently charges members between £9.99 and £25.99 per month (depending on location), whereas LAX club members in London typically pay upwards of £60 per month.

One well-placed industry observer, who declined to be named, said they would not be surprised if the remaining LA fitness clubs were split between two or more suitors, given both the desirability of the London sites and the strong presences of Pure Gym and Sports Direct Fitness in the north of England – where LA fitness also retains a number of health clubs.

Pure Gym is the reported frontrunner in a three-horse race to buy LA fitness for £80m, with Fitness First and Sports Direct Fitness also in contention.
HAF,FIT,IND,PHR
444335_439881.jpg
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News

Three in the running for ‘LA fitness takeover’

Pure Gym is the reported frontrunner in a three-horse race to buy LA fitness for £80m, with Fitness First and Sports Direct Fitness also in contention.

Pure Gym, which yesterday (30 March) announced bumper profits for 2014, is in “advanced” talks to acquire LA fitness, according to The Sunday Times. The paper cited City sources as saying any deal between the parties would be decided by the end of April.

When contacted by Health Club Management, both Pure Gym and Sports Direct Fitness declined to comment, while Fitness First did not immediately respond.

LA fitness last year appointed Canaccord Genuity to find new backers for the business – which comprises 44 sites nationwide. The chain has scaled down in recent years, shedding 33 clubs as part of its CVA (company Voluntary Arrangement) – with Pure Gym and Sport Direct Fitness having snapped up a large share of these. Despite the smaller portfolio, LA fitness possesses an enviable property footprint in London, where it has reported success with its new ‘premiumised’ LAX brand of clubs.

Speaking to Health Club Management in November, LA fitness CEO Martin Long said the main LA fitness shareholders are currently the banks that saw the chain through its CVA. He added: "They’ve been fantastic supporters, but they aren’t the long-term holders of the business."

Of the potential LA fitness suitors, Fitness First would be the most obvious bedfellow given that both chains see themselves as upper mid-market propositions. That said, Pure Gym has made no secret of its desire for a greater London presence, although how it would bridge potential pricing gaps remains to be seen. Pure Gym currently charges members between £9.99 and £25.99 per month (depending on location), whereas LAX club members in London typically pay upwards of £60 per month.

One well-placed industry observer, who declined to be named, said they would not be surprised if the remaining LA fitness clubs were split between two or more suitors, given both the desirability of the London sites and the strong presences of Pure Gym and Sports Direct Fitness in the north of England – where LA fitness also retains a number of health clubs.

Pure Gym is the reported frontrunner in a three-horse race to buy LA fitness for £80m, with Fitness First and Sports Direct Fitness also in contention.
HAF,FIT,IND,PHR
444335_439881.jpg

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TVS was selected because of its dual ability to address acoustic requirements and specify, supply and install high quality sports flooring solutions
HCM Magazine
Local leisure
HCM talks to policy makers, operators and decision-makers about the public sector and trust response to the pandemic
HCM Magazine
HCM People
Having someone just feeling comfortable walking into the gym is important
HCM Magazine
Research
Regular sessions of new-generation yoga can help tackle the lockdown blues, increase sleep quality and boost mental health
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Andy Hall, COO of data and tech solutions brand, Volution, looks at the trends we can expect to see emerging in the global fitness market in 2021
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Ruskin Fitness Club has transformed its gym in partnership with Technogym, adding the new Excite Live line, as well as dedicated workout zones
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With January now close on the horizon your thoughts will be firmly focused on sales campaigns to attract new members through your doors in the new year rush.
Opinion: Sealing the Leaky Bucket – 7 Research-Based Tips for Retaining New Members in January 2021
Featured supplier news
Featured supplier: Funxtion collaborates with global experts on white paper exploring digital in the future of fitness
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Supplier Showcases
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Supplier Showcases
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Catalogue Gallery
Click on a catalogue to view it online
Directory
Fitness Software
FunXtion International BV: Fitness Software
Management software
fibodo Limited: Management software
Spa software
SpaBooker: Spa software
Design consultants
Zynk Design Consultants: Design consultants
Software
Volution.fit: Software
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Skincare
Sothys: Skincare
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TRX Training: Fitness equipment
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Art of Cryo: Whole body cryotherapy
Locking solutions
Monster Padlocks: Locking solutions
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
03-03 Dec 2020
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Diary dates
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Diary dates
02-04 Feb 2021
Ericsson Exhibition Hall, Ricoh Arena, Coventry, United Kingdom
Diary dates
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Diary dates
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NEC, Birmingham, United Kingdom
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Expo Centre & Riviera di Rimini, Italy
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fibodo Limited
fibodo Limited