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UK - Private equity set to reclaim struggling Esporta

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Esporta is reported to be on the brink of going into administration. The gym chain was acquired by the Halabi family trust from Duke Street Capital in November 2006 for an undisclosed sum. It is understood debt worth ТЃ330m involved in Halabi's takeover is yet to be syndicated. Should Halabi not inject extra cash, Esporta's banker Societe Generale will force a sale of the company. Several private equity firms are said to be interested in the business.

The news that Esporta could be in trouble follows hot on the heels of another deal in the leisure gym sector. Yesterday, Bank of Scotland Integrated Finance (BOSIF), together with London & Regional Properties acquired David Lloyd Leisure Ltd from Whitbread Plc for £925m in association with Next Generation Clubs.

Duke Street Capital backed the £230m public-to-private of Esporta in 2002 adding Invicta Leisure, a health and fitness operator worth £140m, to Esporta later that year.

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