The UK’s largest private equity firm, 3i Group Plc, is reportedly considering an initial public offering valued at €1bn (£779m), including debt, for the Dutch discount gym chain Basic-Fit.
If the IPO is launched it could see Basic-Fit listed in Amsterdam by the end of this year.
Morgan Stanley and ABN Amro Group NV have been chosen by 3i to act as advisers, according to Bloomberg, who first reported the story.
Basic-Fit has more than 300 gyms across Europe in the Netherlands, Belgium, France, Luxembourg and Spain.
It operates with a ‘no frills’ approach to workouts, with gym membership being offered from €15.95 per month. 3i invested €100m in Basic-Fit in 2013.
Neither Morgan Stanley, 3i Group nor ABN Amro Group could be reached for comment.