Private equity bidders circle gym chain David Lloyd Leisure

 
Kasmira Jefford
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A PACK of private equity firms including KSL Capital Partners and Blackstone are understood to be considering making offers for David Lloyd Leisure.

The gym chain, which is controlled by London & Regional and Caird Capital, will receive first round bids this week valuing the company at £900m, according to reports this weekend.

Investment bank UBS is advising the company on its strategic options.

David Lloyd runs 80 clubs in the UK and a further 10 sites across Europe, with over 450,000 members and 6,000 staff.

It is said to have traded resiliently last year despite the difficult economic backdrop, with sales understood to have improved on the £320m reported in 2011.

The chain, which is led by its chief executive Scott Lloyd, son of the eponymous founder, is continuing to expand and recently launched its first two high street fitness studios in London and in Winchester.

In January it also signed a joint venture to expand leisure and sports clubs in India. The group is also eyeing further sites in Europe.