Travers Smith LLP has advised management on the acquisition of Pure Gym by Leonard Green & Partners LP.
Leonard Green & Partners will acquire a controlling interest in Pure Gym and will replace the current majority shareholder, funds affiliated with CCMP Capital Advisors, LP, who bought a majority stake in the business in May 2013.
Pure Gym is the UK’s leading gym operator providing low-cost and high-quality fitness facilities for 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.
The Travers Smith team was led by Private Equity Partner Edmund Reed, with support from Private Equity Associates Laura Pembridge and Jess Kolhorn. Specialist tax advice was provided by Tax Partner Hannah Manning with support from Tax Associate Ed Humphreys.
Latham & Watkins acted for Leonard Green & Partners.