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 Raif Badawi, the Saudi Arabian blogger sentenced to 1,000 lashes, may now face death penalty
- 2 PornHub turns masturbation into energy in bid to save the planet
- 3 Robert Mugabe eats a zoo for 'obscene' 91st birthday party
- 4 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
- 5 The jihadi girls who went to Syria weren't just radicalised by Isis — they were groomed
Stephen Hawking's wife Jane Wilde on their marriage breakdown: 'The family were left behind'
Raif Badawi, the Saudi Arabian blogger sentenced to 1,000 lashes, may now face death penalty
Someone has actually got a tattoo of that dress
PornHub turns masturbation into energy in bid to save the planet
White and gold or blue and black – what colour is the dress? An eyewitness gives a definitive answer
New theory could prove how life began and disprove God
This is what it's like to be dead, according to a guy who died for a bit
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
Russia's roadmap for annexing eastern Ukraine 'leaked from Vladimir Putin's office'
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
iJobs Money & Business
£22000 per annum + pension,bonus,career progression: Ashdown Group: An establi...
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...