M&A Deal Summary

Leonard Green & Partners Acquires Pure Gym

On November 3, 2017, private equity firm Leonard Green & Partners acquired consumer services company Pure Gym from CCMP Capital and Hermes GPE for 600M GBP

Acquisition Highlights
  • This is Leonard Green & Partners’ 4th transaction in the Consumer Services sector.
  • This is Leonard Green & Partners’ 15th largest (disclosed) transaction.
  • This is Leonard Green & Partners’ 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2017-11-03
Target Pure Gym
Sector Consumer Services
Buyer(s) Leonard Green & Partners
Sellers(s) CCMP Capital
Hermes GPE
Deal Type Secondary Buyout
Deal Value 600M GBP
Advisor(s) Jefferies
Harris Williams & Co. (Financial)
Ropes & Gray (Legal)

Target

Pure Gym

Leeds, United Kingdom
website
Pure Gym is a large fitness club operator in the U.K. Pure Gym offers its members convenience with 24/7/365 access at a significant value compared to traditional operators. Pure Gym is headquartered in Leeds, United Kingdom.

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Buyer(S) 1

Buyer

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 70.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.


DEAL STATS #
Overall 67 of 88
Sector (Consumer Services) 4 of 5
Type (Secondary Buyout) 22 of 40
Country (United Kingdom) 1 of 2
Year (2017) 6 of 7
Size (of disclosed) 15 of 28
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-13 Troon Golf

Scottsdale, Arizona, United States

Troon is a golf and club-related leisure and hospitality services company, providing a variety of services at 620-plus locations around the globe, including managing 640-plus 18-hole equivalent golf courses. Troon was founded in 1990 and is based in Scottsdale, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-15 Motorsport Aftermarket Group

Coppell, Texas, United States

Motorsport Aftermarket Group (MAG) is a large distributor and manufacturer of branded aftermarket products for the powersports industry in North America. MAG provides dealers, e-commerce sites and their enthusiast end-users with parts, accessories and apparel for motorcycles, ATVs and UTVs. The Company’s brands include Vance & Hines, Kuryakyn, Performance Machine, QuadBoss, DragonFire and ProTaper. Motorsport Aftermarket Group was formed in 2000 and is based in Coppell, Texas.

Sell $300M

Seller(S) 2

SELLER

CCMP Capital

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 18.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

CCMP Capital is a large private equity firm focused on buyout and growth equity valued up to $2 billion. Sectors of interest include consumer, retail, and services (specialty retail, direct marketing, consumer packaged goods); media/telecom (consumer and trade publishing, content and programming, broadcasting, cable, wireless and wire line communications ); industrial (chemicals, manufacturing, distribution, automotive); energy (exploration and production, power generation, renewable energy, services); and healthcare (services, pharmaceuticals, medical devices). The Firm's target investment size is $100 to $500 million. CCMP Capital Advisors was formed in 1984 and was spun off in 2006 from JP Morgan Chase. The Firm is based in New York City.


DEAL STATS #
Overall 73 of 78
Sector (Consumer Services) 2 of 2
Type (Secondary Buyout) 20 of 23
Country (United Kingdom) 6 of 6
Year (2017) 5 of 5
Size (of disclosed) 13 of 30
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-29 Ecovyst

Malvern, Pennsylvania, United States

Ecovyst is a worldwide producer of specialty inorganic performance chemicals, high-end catalysts and engineered glass beads for the consumer, oil & gas, transportation safety, specialty plastics and industrial markets. Ecovyst is based in Malvern, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-07 Volotea

Barcelona, Spain

Volotea is an airline that offers 293 point-to-point routes between 78 mid-small-sized cities throughout Europe at very competitive prices. Volotea was founded in 2009 and is based in Barcelona, Spain.

Sell -
SELLER

Hermes GPE

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 2010
PE ASSETS 8.0B GBP
Size Mega
Type Sector Agnostic
DESCRIPTION

Hermes GPE is a global investor in private equity funds as well as direct co-investor. The Firm manages assets on behalf of institutional investors with a focus on private markets. Hermes GPE is headquartered in London.


DEAL STATS #
Overall 3 of 4
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 3 of 3
Country (United Kingdom) 3 of 3
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-24 YO! Sushi

London, United Kingdom

YO! Sushi is a chain of conveyor belt Japanese restaurants offering 'sophisticated fast food'. YO! Sushi was founded in 1997 and is based in London, United Kingdom.

Buy £100M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-06 Goiko Grill

Madrid, Spain

Goiko Grill is a full service casual gourmet-burger restaurant chain. Goiko Grill was founded in 2013 and is based in Madrid, Spain.

Buy -