Leeds-based PureGym mulls equity raise or IPO

Leeds-based PureGym Group has announced it “is in the early stages of considering options for potentially raising equity, including potentially in the public markets.”

In an interim bondholder update, PureGym Group said: “The PureGym Group believes it is well positioned to take advantage of post-pandemic recovery, increased interest in activity, health, and well-being, and the opportunities presented by competition having been weakened by the rigours of the last 18 months …

“With this context, management has a strong belief that there will be significant opportunities to deploy capital to accelerate growth through opening many more new sites and also by investing further in existing sites and digital and technology assets …

“The PureGym Group is in the early stages of considering options for potentially raising equity, including potentially in the public markets …

“Management are therefore working closely with Leonard Green & Partners (who co-own PureGym alongside the management team) to review its strategic options.”

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