The long-standing proprietor of David Lloyd Leisure, one in every of Britain’s largest upmarket well being and racquet sports chains, is making ready to hearken to presents of greater than £2bn.
Sky News has learnt that TDR Capital, which has owned the enterprise since 2013, has engaged bankers from Morgan Stanley to work on a overview of its strategic choices.
City sources stated on Tuesday {that a} sale would solely proceed if there was curiosity at a sufficiently engaging valuation for TDR.
David Lloyd trades from roughly 150 golf equipment, and is alleged to be buying and selling extraordinarily nicely regardless of rising leisure trade issues in regards to the affect of the price of dwelling disaster.
Bankers say that different massive buyout companies are anticipated to look at presents for the chain.
Read extra:
Banks aren’t passing rate of interest hikes on to savers quick sufficient, chancellor warns
Pace of meals inflation is slowing down – however costs nonetheless surged 15% within the 12 months to June
It was purchased from the property group London & Regional and funding agency Caird Capital, and has since expanded considerably each within the UK and Europe.
Employing greater than 8,500 folks, the corporate boasts greater than 730,000 members, based on TDR’s web site.
Last October, David Lloyd introduced the acquisition of ABC Serrano and La Finca well being golf equipment in Madrid.
The firm is run by Glenn Earlam, its govt chairman.
TDR declined to remark.
Content Source: information.sky.com