DAVID LLOYD LEISURE

  • Next Generation clubs had been acquired – a UK oriented, high-end racquets and fitness business.
  • Consideration was given to merging the existing Next Generation business with David Lloyd Leisure, a much larger competitor.
  • The merged business created a dominant, large scale, upper-end leisure business in the UK.
  • Group acquired in JV with the Bank of Scotland.
  • Appealing to families ensured that the memberships were secure, even during a financial downturn.



INVESTMENT STRATEGY ACHIEVED

  • The merger of the two businesses created significant cost and operational synergies.
  • Several properties were sold where there was a geographical overlap.
  • Plan to build out the development programme of existing owned sites and acquire further properties to continue to grow the group, ahead of an IPO