CCMP Capital Advisors has agreed to buy Pure Gym. Financial terms weren’t announced. Pure Gym is an affordable gym operator in the U.K. Canaccord Genuity provided financial advice to Pure Gym.
CCMP Capital Advisors, LLC (“CCMP”) today announced that it has signed a definitive agreement under which affiliates of CCMP will acquire Pure Gym Ltd (“Pure Gym”), the leading affordable gym operator in the United Kingdom. The agreement, in partnership with current management, will support Pure Gym’s aggressive expansion drive across the UK. Financial terms of the transaction were not disclosed.
Founded in 2009, Pure Gym is the market leader in the rapidly growing low-cost segment of the £4 billion UK gym
market. With 45 locations and more than 240,000 members, Pure Gym offers a highly compelling customer value
proposition, with the latest in high quality facilities and equipment, low upfront and monthly membership rates,
and no fixed contract. CCMP will support Pure Gym’s rollout strategy which will include the opening of an
additional 40 new gyms over the next 12 months.
Thomas Walker, Managing Director at CCMP’s London affiliate, said: “We’re delighted to be partnering with
management to accelerate the growth of Pure Gym, an outstanding business with tremendous customer appeal.
Under CEO Peter Roberts’ vision and guidance, the Company has secured its leadership position by offering a
unique combination of a premier gym experience at an affordable price and on flexible terms. Given Pure Gym’s
relatively low market penetration and the widespread appeal of a high-quality low-cost fitness option, we believe
there is a significant opportunity to expand Pure Gym aggressively across the UK. We look forward to bringing our
successful experience in growing consumer-facing businesses to bear as Pure Gym enters its next phase of
Peter Roberts, Founder and Chief Executive Officer of Pure Gym, commented: “I speak for the entire management
team when I say that we are thrilled to partner with CCMP as we work to seize the exciting opportunities ahead for
Pure Gym. With their support and experience in building successful consumer businesses, Pure Gym will be well-
positioned to execute on our targeted expansion plans, while continuing to provide an outstanding experience for
The transaction is expected to close in the second quarter of 2013, subject to customary closing conditions.
Canaccord Genuity acted as financial advisor and Travers Smith acted as legal advisor to Pure Gym, and Liberty
Corporate Finance acted as advisor to Pure Gym’s management. Kirkland & Ellis acted as legal advisors to CCMP.
About Pure Gym
Pure Gym was established in 2008 by leisure entrepreneur Peter Roberts, who has been a key driving force behind the growth of the affordable fitness sector, with the popularity of low cost gyms continuing to rise. The Company is known for not burdening its members with contractual commitments as it offers membership from £10.99 a month with no fixed contract, and members have access to gyms 24 hours a day, seven days a week.
CCMP Capital Advisors, LLC (“CCMP”) specializes in upper-middle market buyouts and growth equity investments of $100 million to $500 million in the U.S. and Europe. CCMP focuses on generating alpha through the operational transformation of its portfolio companies. With offices in New York, Houston and London, CCMP invests in four primary industries: Consumer, Industrial, Energy and Healthcare. Selected investments under management include: ARAMARK Corporation, Chaparral Energy, Edwards Group, Generac Power Systems, Infogroup, Jetro Holdings, LHP Hospital Group, Medpace, Milacron, Newark Energy and Ollie’s Bargain Outlet.