UK - Partial exit for Permira and Bridgepoint as Virgin Active acquires Holmes Place's UK business

Virgin Active, the health and fitness group, has signed an agreement to acquire Holmes Placeт€™s UK business, comprising 47 clubs in the UK with a membership of 190,000. Virgin will have a majority stake of the enlarged Group. The Holmes Place clubs will be rebranded as Virgin Active by the end of second quarter 2007. The transaction, which values the Group at ТЃ650m, involves Bridgepoint and Permira funds reinvesting in Virgin Active by taking a minority stake. Completion is subject to approval by the OFT.