BC Partners lines up IPO for Fitness First
BC Partners is preparing to exit Fitness First in an IPO worth up to ТЃ1.2bn, according to reports.
BC Partners is looking to float the gym group on a stock exchange in either Singapore, Shanghai, Sydney or Hong Kong. The investor is interested in listing on an Asia-Pacific stock exchange as over a third of revenue and more than half of the company's earnings come from the region.
BC Partners acquired Fitness First in an auction in October 2005 for £835m. The investor's strategy is to build the company by supporting an international expansion.
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