TDR works out David Lloyd deal

The deal value has not been disclosed, however, it is believed to be in the £750 region.

Following the deal, TDR plans to invest a further £50m across the existing estate to enhance facilities. The private equity firm has also identified a pipeline of more than 20 potential additional sites in the UK, as well as a number of UK bolt-on opportunities. The group will also look to further expand in Europe through selected add-on deals and is currently negotiating two new clubs.

Company
DLL is a family-orientated, high-end, health, sport and leisure facility operator. The group has 81 clubs in the UK as well as a further 10 across Europe. It has 440,000 members and employs 6,000 people. It most recently opened a new flagship club in Farnham in December 2011 and another in Worcester in December 2012.

The group launched DL Studios, a personal and group training fitness concept, in September 2012 in Putney, exposing the company to the high street and gaining a level of diversification. It has since opened more DL Studios in Winchester and Islington this year.

DLL has seen a 4% uplift in membership sales this year and a 5% drop in leavers, which is believed to make it one of the highest member retention groups in the industry.

People
Scott Lloyd is CEO of DLL. Manjit Dale is a founding partner of TDR.

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• Topics
• Buyouts
• UK / Ireland
• Consumer
• TDR Capital
• United Kingdom