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30th Anniversary year
leisure opportunities 14 Nov – 27 Nov 2017 Issue 723
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Pure Gym sold to US investors LGP US buyout firm Leonard Green & Partners (LGP), which jointly owns Topshop with Sir Philip Green, has won a two-month bidding contest for UK operator Pure Gym. The private equity shop announced it will acquire a controlling interest in Pure Gym, replacing current majority shareholder and US private equity firm CCMP Capital Advisors. CCMP bought a majority stake in the business in May 2013 but will no longer retain an interest. While details of the deal have not been disclosed, it was confirmed that it is scheduled to be completed by
■■Pure Gym has 189 clubs across the UK, boasting 950,000 members
the end of November. Ahead of the announcement, Sky News reported
950,000 members, comes a year
that the deal would be worth £600m.
after the company abandoned an
The first round of bids took place in
initial public offering (IPO).
September, followed by further bids
“We’re delighted to be entering into a
on 2 November. Reports listed other
new partnership with Leonard Green &
interested parties as Goldman Sachs
Partners, whose investment confirms
Private Equity, Pamplona and Providence.
the growth potential of our business,” said Pure Gym CEO Humphrey Cobbold.
The sale of Pure Gym, which has 189 clubs nationwide and
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