Pure Gym
Liberty Corporate Finance is pleased to announce the completion of the management buyout of Pure Gym the leading affordable gym operator in the United Kingdom, by CCMP Capital Advisors LLC.
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.
Canaccord Genuity acted as financial advisor and Travers Smith acted as legal advisor to Pure Gym, Liberty Corporate Finance acted as advisor to Pure Gym’s management. Kirkland & Ellis acted as legal advisors to CCMP Capital.
Peter Roberts, Founder and Chief Executive Officer of Pure Gym, commented:
"The management team were delighted to be represented by Liberty who gave great guidance and assistance in what was a complicated transaction.”
Michael McDonagh, Director at Liberty commented:
“We are delighted to have advised Peter and his team on this transaction which secures funding to accelerate the growth of the business as well as delivering a profitable exit for the existing sharteholders.”