Bidders have reportedly tabled offers for the UK’s biggest health and fitness group Pure Gym after the deadline closed on Thursday (21 September).
KKR is among a group of investors interested in what is believed to be “a £600m-plus [US$808.5m, €684m] auction” of the fitness chain, according to
Sky News.
The potential sale of Pure Gym, which has 180 clubs nationwide, comes a year after the company abandoned an initial public offering (IPO).
In September 2016, Humphrey Cobbold, Pure Gym chief executive, said the operator was “ready to become a listed company” and that it would be using the IPO to raise £190m (US$237m, €220.6m). However, a month later Cobbold told
Health Club Management that it had
withdrawn its plans due to challenging market conditions.
The abandoned IPO cost the group £6.8m (US$8.48m, €7.9m).
US private equity firm CCMP Capital Advisors has been a controlling shareholder of the chain since 2013.
Pure Gym declined to comment.
