When was PUREGYM acquired by KKR?

PUREGYM was acquired by KKR in 2021.

What was the revenue of PUREGYM at the time of the deal?

The revenue of PUREGYM at the time of the deal is estimated to be in the range of 250M - 500M GBP.

What was the EBITDA of PUREGYM during the acquisition?

PUREGYM's EBITDA is estimated to be in the range of 25M - 50M GBP.

How is the data for the PUREGYM acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the PUREGYM deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://corporate.puregym.com/investors/financial-calendar/event-details/2021/PureGym-Bondholder-Update-December-2021/default.aspx

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Home Database Retail & ConsumerPUREGYM

12/2021

PUREGYM acquired by KKR

UNITED STATES Hospitality & Leisure / Hospitality REV 250M - 500M GBP

Context

PureGym has secured a £300 million equity investment from KKR, marking a significant milestone in the group’s international expansion and digital development strategy. KKR joins the capital structure as a significant minority investor alongside the majority owner, Leonard Green & Partners (LGP), and the company’s management team. The investment is structured as Convertible Cumulative Preference Shares, which rank junior to the existing Senior Secured Notes and feature accruing, non-paid dividends. The strategic rationale for the deal centers on providing PureGym with a robust capital base to fund the opening of new sites in the UK and Switzerland, strengthen the existing network in Denmark, and accelerate international franchising efforts in the Middle East, Asia, and the United States. This transaction highlights the strong recovery of the fitness sector post-pandemic and the increasing institutional appetite for technology-led, low-cost health platforms.

In the past, the company underwent an LBO led by Leonard Green & Partners in 2017, and continued an active consolidation strategy by notably acquiring Fitness World Group (2020).

PUREGYM, which reported an EBITDA margin of in 2021, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Retail & Consumer sector (11.0x).

-> Deep-dive in Retail & Consumer market trends

Target

PureGym is the UK’s leading low-cost gym operator, recognized for pioneering the 24/7, no-contract fitness model. The company operates a large-scale network of over 240 gyms, providing affordable health and wellness services to more than 1.2 million members. Its business model relies on heavy automation, technology-driven operations, and a streamlined cost structure that allows for competitive pricing while maintaining high EBITDA margins. PureGym focuses on high-traffic urban locations and utilizes data analytics to optimize site selection and member retention. The firm’s strategic roadmap emphasizes geographic diversification and the pursuit of "European Champion" status through large-scale M&A. By offering a flexible, tech-enabled user experience, PureGym has disrupted the traditional mid-market fitness segment, establishing itself as a dominant player in the UK's value-fitness sector.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (GBP)

Year

Rev

EBITDA

EBIT

2021

2020

Other operations with PUREGYM

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
01/2020	PUREGYM	FITNESS WORLD GROUP	DENMARK	Hospitality
11/2017	LEONARD GREEN & PARTNERS	PUREGYM	UNITED STATES	Hospitality

REFERENCES

Revenue range: 250M - 500M GBP

EBITDA range: 25M - 50M GBP

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of PUREGYM by KKR are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: puregym

Acquirer: kkr