news
G
with Guggenheim Securities, Citigroup and Piper Sandler as bookrunners. Xponential is backed by entrepreneur and CEO Anthony Geisler and Snapdragon Capital Partners. The move comes after months of speculation that Xponential was considering a listing. The group was first linked to a potential launch onto the stock market in January 2020, but disruptions caused by the pandemic were believed to have put a stop to any plans for a listing. Xponential has grown rapidly in recent years. In March the group acquired boxing studio operator Rumble, adding it to its portfolio of franchised fitness brands.
lobal boutique fitness giant Xponential Fitness has finally confirmed its plans for an initial public offering (IPO). The group revealed that it will list on the New York Stock Exchange (NYSE), although the number of shares to be offered and the price range for the proposed offering have not yet been determined. BofA Securities, Jefferies and Morgan Stanley are acting as joint lead bookrunners for the proposed offering,
Xponential owns Rumble, StretchLab, Pure Barre, Club Pilates, CycleBar, YogaSix, Row House, AKT and STRIDE
XPONENTIAL FITNESS/CYCLEBAR
Xponential Fitness to list on New York Stock Exchange
The group opened 240 sites during pandemic-hit 2020 As well as Rumble, the portfolio now includes Pure Barre, Club Pilates, CycleBar, YogaSix, StretchLab, Row House, AKT and STRIDE. The group opened 394 new locations in 2019 and another 240 during
pandemic-hit 2020 and recently launched five of its brands in the emerging Saudi Arabian market, including Club Pilates, Pure Barre, AKT, YogaSix and CycleBar. More: http://lei.sr/3w9x4_H
30
Issue 7 2021 ©Cybertrek 2021
THE GYM GROUP
T
he Gym Group aims to raise £31m from investors to fund 40 new sites around the UK. The equity raise will be followed by the group setting off on an 18-month period of “accelerated expansion” as it looks to benefit from the “unique opportunities” in the commercial property market – largely caused by the COVID-19 pandemic. Richard Darwin, CEO, said: ”Our new gym pipeline is the strongest it has ever been and we thank shareholders for their support in this placing, which allows us to accelerate our rollout to 40 new sites over the next 18 months.
THE GYM GROUP
The Gym Group’s £31m war chest will fund 40 sites
Our new gym pipeline is the strongest it has ever been The Gym Group plans to open 40 new sites around the UK “Gyms have an essential role to play in the nation’s physical and mental health and growing our portfolio will widen access to affordable fitness for more communities across the UK.”
Since reopening its sites following the lockdowns, the group has made ground quickly in recovering its membership base. It had a total of 794,000 members in December 2019
Richard Darwin
– a figure that fell to 547,000 by February 2021. Total membership had recovered to 729,000 by 24 May 2021. More: http://lei.sr/h4d2G_H