PURE GYM, the Leeds-based chain of low-cost gyms, is stepping up its plans for a 2016 IPO after it appointed investment bank Rothschild to review its options.
The gym chain was founded by leisure entrepreneur Peter Roberts and its first gym opened in Leeds in 2009, with a plan to create a network of 20 gyms.
When it reached 65 gyms, in 2013, private equity group CCMP bought it in a £118m deal. The chain’s expansion was then speeded up by its purchase last year of rival LA Fitness.
Its 650,000 members can access about 130 gyms, while the company has identified locations for a further 30.
Rothschild is assessing the options for majority owner CCMP, although it is understood that an IPO is considered to be its most likely exit route. Rival group The Gym, which Pure Gym once tried to buy before being blocked by competition authorities, successfully floated two months ago.
