Leeds-based international firm PureGym Group said its 2024 revenue increased 10% to £605 million and reported EBITDA rose 10.5% to £256 million “driven by ongoing gym expansion, membership growth and an improvement in average revenue per member.”
The firm is jointly owned by investment firms Leonard Green & Partners and KKR as well as key members of the group’s management team.
As at December 31, 2024, PureGym had 2.25 million members around the world. It 410 gyms in the UK, 144 gyms in Denmark, 44 gyms in Switzerland, 59 gyms in the US and 23 franchise gyms in the Middle East — 21 in Saudi Arabia and two in United Arab Emirates.
PureGym Group CEO Clive Chesser said: “Overall, 2024 was an excellent year for PureGym in which we delivered good results across all key metrics and geographies. Our expansion accelerated with the opening of 105 new gyms both organically, through franchise, and with the acquisition of Blink Fitness operations in New York, providing us with an exciting platform for growth in the USA.
“The business ended the year with 2.25 million members and 680 gyms, meaning that PureGym ranks amongst the world’s leading gym and fitness operators, supporting our mission of inspiring healthier nations.
“Market conditions for the consumer continue to be challenging in many of our markets. Our proposition – to provide a boutique fitness experience at a value gym price – is appealing in these market conditions and demonstrates why the value gym sector continues to thrive. Increasing importance being placed upon health and wellbeing, both physical and mental, is a structural trend that continues to attract people to our gyms, as does the growing popularity of strength training and fitness competitions.
“We have a clear strategy for each of our markets. In the UK and Switzerland, we will continue to expand and invest in our existing gyms. In Denmark the re-branded, consolidated portfolio is on a good profit trajectory, and in the US the Blink Fitness integration is well underway.
“Looking forward, we have started 2025 strongly and see growth accelerating. We plan to open up to 70 new gyms this year, primarily in the UK, with additional expansion in Switzerland and the US. We have a very exciting medium-term opportunity through judicious expansion and the maturation of newly opened gyms. In the UK, we see a pathway to open over 300 new sites, alongside ambitious plans in Switzerland.
“The USA, where we now have critical mass, represents a tremendous opportunity for PureGym. The integration is well underway, following which our focus will turn to growth, both through opening our own sites or with franchise partners.”