Britain’s biggest gym chain is mulling a stock market listing to accelerate its growth.
In an update to bondholders, PureGym said it was “in the early stages of considering options for potentially raising equity, including in the public markets” and was “working closely” with Leonard Green & Partners, its US private equity backer, to “review strategic options”.
It said it was “well positioned to take advantage of post-pandemic recovery” as well as “opportunities presented by competition weakened by the rigours of the last 18 months”, and that it hoped to both open new sites and invest in existing ones.
PureGym runs 283 clubs across the UK. Just before the pandemic, the group acquired Denmark’s Fitness World — which also has a presence in Switzerland and Poland — for about £350m.
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