David Lloyd Leisure fitness clubs sold for healthy £750m
Friday 06 September 2013
The gyms group David Lloyd Leisure has been bought by TDR Capital. The private equity firm, which is believed to have paid £750m for the business, said it plans to inject £50m into the group and to expand it across the UK and Europe.
It is understood that the group has its eyes on a further 20 sites in this country and is keen to create many more of the new high street version of the gyms, known as DL Studios.
TDR has a strong record for investing in the leisure sector with PizzaExpress, Center parcs and Stonegate Pubs among its successful ventures.
Whitbread, which had bought the business from the former Davis Cup captain, sold it for £925m to a group made up of the Livingstone brothers' London & Regional and Bank of Scotland's private-equity arm in 2007.
The group operates 87 David Lloyd gyms and two exclusive Harbour Clubs. It has around 450,000 members. It also has 10 clubs in Europe. TDR said it would look at making further acquisitions to grow the business.
David Lloyd Leisure's chief executive Scott Lloyd, son of the founder, said: "I am delighted to be partnering with TDR for the next phase in DLL's development.
"The team at TDR have an enviable track record of investing in highly successful businesses, particularly in the leisure sector and DLL and its members will see immense benefit from their experience and expertise."
- 1 The truth about 'girl things': Three cheers for Heather Watson's honesty
- 2 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
- 3 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 4 Tennis fan suing Australian Open organisers for 'failing to shade spectators' during Murray match
- 5 Syrian refugee child beaten by Istanbul Burger King manager for eating customer’s leftover food
Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Rob Lowe hits out at White House decision not to meet Israeli leader
Iraq invasion 2003: The bloody warnings six wise men gave to Tony Blair as he prepared to launch poorly planned campaign
Winston Churchill: From accusations of anti-Semitism to the blunt refusal that led to the deaths of millions
British Muslim leaders outraged after Eric Pickles says followers of Islam should 'prove their identity'
UK terror fears: My jihadist son returned from Syria mentally scarred – now he is being ignored
Nigel Farage: NHS might have to be replaced by private health insurance
Billy Crystal: 'Stop shoving gay sex scenes in my face'
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
iJobs Money & Business
Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...
£16000 - £25000 per annum: Recruitment Genius: This is an exciting opportunity...
£45000 - £47000 per annum + bonus + benefits: Ashdown Group: Java Developer / ...
£35000 - £38000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...