KKR Buys $396M Stake in PureGym

Private equity firm KKR & Co. has acquired a $396 million minority stake in PureGym, valuing the United Kingdom’s largest gym operator at more than $2 billion. 

The deal will allow PureGym — which has more than 1 million members registered — to add more sites in its current markets and expand across Europe, Saudi Arabia, and the U.S.

KKR acquiring a stake in PureGym adds to a busy year for the firm’s sports and fitness portfolio.

• In May, the firm cashed out most of its position in UFC parent company Endeavor, selling 18.2 million shares for a profit of $437 million.
• It is reportedly preparing an offer to purchase a stake of up to 20% — worth roughly $1.7 billion — in a new company that will hold media rights to Ligue 1.
• In September, the firm announced it was selling its entire $852 million stake in sporting goods retailer Academy Sports.
• Last month, it submitted a takeover bid for Telecom Italia, which holds broadcasting rights to Serie A. 

Ownership History

In 2017, PureGym was acquired by private equity group Leonard Green & Partners in a deal that valued the business at $823 million.

Leonard Green & Partners bought its majority stake from CCMP Capital, a British buyout house, which acquired PureGym in 2013 from founder Peter Roberts for an undisclosed amount.