Bankers work on £400m debt financing for Pure Gym sale

 
Helen Cahill
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Pure Gym has around 850,000 members (Source: puregym.com)

Bankers are working on securing £400m of debt financing for a possible sale of Pure Gym, according to Reuters.

Harris Williams and Jefferies are acting as advisors on a sale process, and the final round of bids ends at the beginning of November.

Pure Gym's major shareholder is CCMP Capital Advisors, which has controlled the leisure chain for four years.

Read more: Bidders limber up for £600m auction of Pure Gym

The sale process follows the collapse of an £190m IPO more than a year ago, which CCMP Capital Advisors said was due to challenging market conditions.

The chain was founded in 2009 and has more than 180 gyms across the UK.

Goldman Sachs Private Equity, Leonard Green, Pamplona and Providence are some of the parties interested in Pure Gym, Reuters' sources said.

Pure Gym declined to comment.

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