Harris Williams & Co. Ltd Advises Pure Gym on its Pending Sale to Leonard Green & Partners, L.P.
Harris Williams & Co. Ltd, a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces that it advised Gym Topco Limited (Pure Gym), a portfolio company of CCMP Capital Advisors, LLC (CCMP), on its pending sale to Leonard Green & Partners, L.P (LGP). Pure Gym is the leading gym operator in the UK. The pending transaction is being led by Edward Arkus and Will Bain of Harris Williams & Co.’s Consumer Group and Danielius Uznys and Krishna Patel of the firm’s London office.
“Pure Gym is undoubtedly a best-in-class business, which has been disrupting the health and fitness space since 2009 with its high-quality, affordable, flexible and technology-enabled offering,” said Edward Arkus, a managing director at Harris Williams & Co. “We are delighted to have advised Pure Gym on this transaction, which further enhances our unmatched record of advising companies in the health and fitness sector.”
Will Bain, a director in the firm’s Consumer Group added, “Humphrey and his team have built a truly impressive business. We look forward to following Pure Gym’s continued expansion through this formidable partnership with LGP, one of the preeminent investors in the health and fitness sector globally.”
Pure Gym is one of the UK’s leading gym operators providing low-cost and high-quality fitness facilities to more than 950,000 members spread across 189 sites. Pure Gym was launched in 2009 and pioneered the model for affordable, flexible, high-quality fitness clubs in the UK. Members pay monthly and have no contract commitment. Most of its gyms are open 24 hours a day across the UK and offer a full range of top of the line equipment including cardiovascular equipment, fixed-resistance and free weights. Each gym offers over 220 pieces of fitness equipment and up to 80 group exercise classes each week delivered by approximately 2,000 personal trainers.
CCMP specializes in middle market buyouts and growth equity investments of $100 million to $500 million in North America and Europe. CCMP focuses on generating alpha through the operational transformation and growth of its portfolio companies. With offices in New York, Houston and London, CCMP invests in three primary industries: Consumer, Industrial and Healthcare. Selected investments under management include: Badger Sportswear, Shoes For Crews, PQ Corporation, Jetro Cash & Carry, The Hillman Group, Milacron, Volotea, Hayward Industries, Truck Hero and Eating Recovery Center.
LGP is a leading private equity investment firm founded in 1989 and based in Los Angeles. The firm partners with experienced management teams to invest in market leading companies. Since inception the firm has invested in over 80 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity and selective public equity and debt positions. LGP primarily focus on companies providing services, including consumer, business and healthcare services, as well as retail. The most recent fund, Green Equity Investors VII, L.P. closed in 2016 with $9.6 billion of committed capital.
Harris Williams & Co. (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s Consumer Group has completed more than 50 transactions in recent years across a variety of verticals, including branded consumer products; consumer services; food, beverage and agribusiness; and restaurant and retail. For more information on Harris Williams & Co.’s Consumer Group and other recent transactions, visit the Consumer Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 7078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.