Latest news with #TDRCapital
Yahoo
08-07-2025
- Business
- Yahoo
David Lloyd Leisure owner TDR Capital close to finalising £2bn 'sale'
The private equity backers of David Lloyd Leisure, the premium health and fitness clubs chain, are close to finalising a £2bn deal that will see it continue as the company's long-term owner. Sky News has learnt that TDR Capital, which has owned David Lloyd Leisure since 2013, is putting the finishing touches to a so-called continuation vehicle which effectively transfers ownership of the group from one of its funds to another entity which has many of the same investors. Banking sources said that TDR had lined up a string of major new investors to help fund the £800m of equity commitments required to finance the deal. Post Office latest: The remaining £1.2bn is in the form of David Lloyd Leisure's existing debt rolling over to the continuation vehicle. One banking source said on Tuesday that there had been over £1bn of demand for the equity portion of the transaction. David Lloyd Leisure is one of Europe's biggest health and fitness operators, with 134 clubs and more than 11,500 employees. Under TDR's ownership, it has expanded its site numbers by 50pc, including opening 30 venues in mainland Europe. In its last financial year, it recorded earnings before interest, tax, depreciation and amortisation of just over £230m - a one-third rise on the previous year. The chain now boasts more than 800,000 members, as of last month. People close to the company said its investment in spas and the introduction of popular wellness concepts such as meditation, yoga and tai chi have been partly responsible for its improved performance. They added that it had a strong pipeline of new clubs both in the UK and Europe, with 30 new openings planned in the coming years, and proposals to open more than 200 Padel courts across its sites. The decision to transfer ownership of David Lloyd Leisure to a continuation vehicle would allow new and existing investors the opportunity to benefit from future growth, according to insiders. It also offers limited partners, or investors, in the TDR fund in which David Lloyd Leisure is currently held the opportunity to realise their investment. TDR, which also owns Asda and Stonegate Group, Britain's biggest pub company, has explored a sale of David Lloyd Leisure in the past, including recently, but did not attract offers of a sufficient value, according to bankers. Jefferies is advising TDR on the continuation vehicle - which has become an increasingly common way for private equity firms to resolve issues relating to the ownership of long-held assets - and its negotiations with investors. A TDR spokesman declined to comment.
Sky News
08-07-2025
- Business
- Sky News
David Lloyd Leisure owner TDR Capital close to finalising £2bn 'sale'
The private equity backers of David Lloyd Leisure, the premium health and fitness clubs chain, are close to finalising a £2bn deal that will see it continue as the company's long-term owner. Sky News has learnt that TDR Capital, which has owned David Lloyd Leisure since 2013, is putting the finishing touches to a so-called continuation vehicle which effectively transfers ownership of the group from one of its funds to another entity which has many of the same investors. Banking sources said that TDR had lined up a string of major new investors to help fund the £800m of equity commitments required to finance the deal. The remaining £1.2bn is in the form of David Lloyd Leisure's existing debt rolling over to the continuation vehicle. One banking source said on Tuesday that there had been over £1bn of demand for the equity portion of the transaction. David Lloyd Leisure is one of Europe's biggest health and fitness operators, with 134 clubs and more than 11,500 employees. Under TDR's ownership, it has expanded its site numbers by 50pc, including opening 30 venues in mainland Europe. In its last financial year, it recorded earnings before interest, tax, depreciation and amortisation of just over £230m - a one-third rise on the previous year. The chain now boasts more than 800,000 members, as of last month. People close to the company said its investment in spas and the introduction of popular wellness concepts such as meditation, yoga and tai chi have been partly responsible for its improved performance. They added that it had a strong pipeline of new clubs both in the UK and Europe, with 30 new openings planned in the coming years, and proposals to open more than 200 Padel courts across its sites. The decision to transfer ownership of David Lloyd Leisure to a continuation vehicle would allow new and existing investors the opportunity to benefit from future growth, according to insiders. It also offers limited partners, or investors, in the TDR fund in which David Lloyd Leisure is currently held the opportunity to realise their investment. TDR, which also owns Asda and Stonegate Group, Britain's biggest pub company, has explored a sale of David Lloyd Leisure in the past, including recently, but did not attract offers of a sufficient value, according to bankers. Jefferies is advising TDR on the continuation vehicle - which has become an increasingly common way for private equity firms to resolve issues relating to the ownership of long-held assets - and its negotiations with investors.
Arabian Business
03-07-2025
- Business
- Arabian Business
ADIA reportedly eyeing 30% stake acquisition in Aggreko
The Abu Dhabi Investment Authority (ADIA) is among a number of high-profile investors interested in buying a minority stake in Aggreko, the world's largest temporary power company. According to a Bloomberg report based on sources familiar with the matter, buyout firms KKR and CVC Capital Partners are also among the parties interested in buying the 30 per cent stake in the Glasgow-based company being offered by owners TDR Capital and I Squared Capital. The sources told Bloomberg that the deal could value the entire business at US$12 billion or more. Deliberations are in the early stages and no final decisions have been made, the sources said. Aggreko's owners could also decide against the stake sale if offers come below their expectations. Representatives for TDR, I Squared, ADIA, CVC and KKR declined to comment, Bloomberg added. TDR and I Squared took Aggreko private in a US$3.5 billion deal in August 2021. Aggreko is involved in several events, including some of the biggest sports tournaments and music festivals, and has a diverse portfolio of clients across the construction and travel industries. With more than 6,000 workers, it has a presence in more than 60 global locations with a fleet size of 9.6 gigawatts (in 2021 according to its website).
Bloomberg
02-07-2025
- Business
- Bloomberg
ADIA, CVC Said Among Firms Eyeing Stake in $12 Billion Aggreko
The Abu Dhabi Investment Authority, buyout firms KKR & Co. and CVC Capital Partners Plc are among parties considering buying a minority stake in Aggreko, one of the world's biggest suppliers of portable power generators, according to people familiar with the matter. Aggreko's owners TDR Capital and I Squared Capital are planning to sell as much as 30% in the Glasgow-based company and a deal could value the entire business at $12 billion or more, the people said. The stake sale could also draw interest from other financial investors, the people said, asking not to be identified as the information is private.
Daily Mail
28-06-2025
- Business
- Daily Mail
Forget the weights! Gen Z flocks to David Lloyd for yoga
A craze for 'holistic' health pursuits such as yoga, Tai Chi and spirit dance has pushed memberships to record levels at the upmarket David Lloyd clubs. The Hertfordshire-based group, which has 133 health clubs across Britain and Europe, has notched up 800,000 members, largely thanks to the trend for mindfulness and meditation rather than pumping iron. For the first time, more of its members are signing up for holistic classes than gruelling high-energy sessions. Mind-and-body sessions include sound meditation, which aims to help people relax using soothing reverberations from crystal bowls and ocean drums, along with ecstatic dance meditation. This, along with spa retreats, helped drive turnover up by 12 per cent in the first three months of this year to £233 million. Profit was up too as earnings before tax jumped 29 per cent to £68 million. The boom in demand for well-being activities such as yoga comes as younger generations spend more than ever on mental and physical health. 'Wellness products are increasingly popular with members of all ages,' says boss Russell Barnes. He added that they are particularly appealing to Generation Z, those born between 1997 and 2012, and Millennials, those born between 1981 and 1996. David Lloyd is also drawing in players of sociable racket sports such as padel and pickleball. Surging sales and profit come as David Lloyd's owner, private equity group TDR Capital, explores options for the business after previous attempts to sell. TDR, which also owns the supermarket chain Asda, is reportedly mulling whether to transfer David Lloyd from one of its funds to another while bringing in new investors. Such a deal could value the group at up to £2.3 billion.
