David Lloyd Leisure begins the process of changing hands. TDR Capital, the company that owns the David Lloyd Leisure gym chain, is considering selling a majority stake package in the companyaccording to Reuters.
TDR Capital is expected to continue with the auction process until the end of this year and the transaction could reach a price of 2,000 million pounds sterling (2,317 million euros).
TDR Capital acquired David Lloyd Leisure in 2013 for 750 million pounds (869 million euros), therefore, if the amount anticipated by the company was reached due to the change of hands, it would mean almost tripling its initial investment.
At the beginning of the year, it was announced that the British chain of gyms will invest between thirty and thirty-three million euros in Spain during 2023 with the aim of integrating the three centers that it bought from Accura in December 2021.
TDR Capital acquired David Lloyd Leisure in 2013 for 750 million pounds (869 million euros)
The integration of the last three acquisitions will involve an investment of 8.6 million eurosof which around 50%, up to 4.2 million euros, will go to the center of Gavá (Barcelona), considered one of the centers flag ship of the company in Spain. The disbursement for the Zaragoza and Malaga centers will amount to 2.2 million euros, respectively.
During the second half of 2023, the chain of gyms will start the works of the old Manolo Santana Tennis Club, located in Boadilla del Monte and which David Lloyd acquired in November 2022 for 4.6 million euros. By the end of 2023, the chain will begin construction on the two Reebok Sports Club, which it bought in September 2022 from the ASL Fitness company.
The chain closed the year with 25,000 subscribers. The British company that manages the chain of gyms (and which has five centers in Spain), closed 2021 with a 43% increase in sales, up to 341.3 million pounds (393.4 million euros). However, the company, which has more than one hundred centers, could not avoid the losses, which fell 44%, to 48.3 million pounds (55.7 million euros).
Founded in 1982 by professional tennis player David Lloyd, the chain, which is part of the Deuce Midco Limited group, owned by the TDR Capital fund, earns more than 75% of revenue through subscriber memberships. The accounts of the past year, as the company explains in its report, were affected by the restrictions that were applied for a third of the year, in addition to the national closures in the other countries where it operates.