Fitness First plans $700m public offer

[Musicwhiz]

Wow even a gym operator is thinking of listing here. Anyone is a member of Fitness First? (Note: I am not)

Business Times - 08 Feb 2011

Fitness First plans $700m public offer

(SINGAPORE) Gym-operator Fitness First plans to raise as much as $700 million in an initial public offering (IPO) in Singapore, IFR Asia said yesterday.

CLSA, Credit Suisse, and JPMorgan have been appointed as bookrunners for the IPO that is expected to take place in the third quarter, IFR reported.

The IPO is expected to raise around $600 million to $700 million.

Private equity house BC Partners paid £835 million (S$1.69 billion) in 2005 to take control of the company.

Fitness First listed on London's AIM board in 1996 and delisted in 2003 when Cinven bought it for £404 million. \\-- Reuters

[newborn1000]

From Wikipedia

Fitness First is the largest privately owned health club group in the world with over 540 Fitness First clubs worldwide reaching over 1.4 million members in 19 countries. In the UK alone there are 161 Fitness First clubs with over 1,425,000 members.

In 2005 the company was acquired by BC Partners, a European private equity group.

In Australia, Fitness First took over a number of Living Well Lady locations owned by the Hilton Group. Also they bought the 11-gym Healthland chain from an administrator, and now own over 80 gyms across Australia.

In late 2006, Fitness First reached the milestone of 500 clubs worldwide, marked by the opening of the fourth club in Sydney, Australia.

It is behind the worldwide International Fitness Week campaign to encourage more people to find out what fitness regime works for them. The campaign uses former Spice Girl Mel B as the face of International Fitness Week

http://en.wikipedia.org/wiki/Fitness_First

[mrEngineer]

The question is why choose to list in Singapore? Although I am a member of the other gym, I am tempted to switch to FF after my contract expires!

Personal reason being:
1. The equipment are constantly maintaned
2. They borrow gym clothes (without shoes)
3. They do not really tie people up with contracts
4. Largest selection of locations not only in Singapore but around the world

I think they have a wonderful business as well by the fact they charge at 140+ per month per month (highest) to get the passport and we can see tons of people still subscribing to them as compared to the other gyms here which cost about 50-80++/mth.

[corydorus]

Have you read the link from Newborn ?

[mrEngineer]

What about the link? I m giving my personal opinion after trying out the other sucky gym clubs.

If u are referring to the controversies section, I guess for a gym with scale that large ought to have negative events occurring whether media chooses to glamorize it would be an issue to note.

[corydorus]

There's a mention about contract to fulfill even after she ends her membership. Is this normal ?
sorry i can only afford to go garden to jog.

[newborn1000]

The only real gyms I have been to are the the ones at school and Singapore Sports Council.........

It's definitely good business......there are always people there, then again we got to dissect the financials to be certain..........