Former Dragon's Den investor Duncan Bannatyne is shopping around a "substantial" minority stake in his hotel-to-gym empire, which could value the business at £350m.
Two years on from an abandoned flotation of the business, Bannatyne has hired DC Advisory to attract entrepreneurs towards his health and fitness chain Bannatyne Group, Sky News first reported.
The group itself is headed by Justin Musgrove, while Bannatyne himself chose not to sit on the board of his gym kingdom. The chain has 71 gyms, 46 spas and four hotels across the UK.
In a statement issued in response to an enquiry from Sky News, Musgrove said: "The Bannatyne Group is considering a number of investment options to co-fund its aggressive expansion programme.
"There will be announcements later in the year."
Such announcements could include a possible venture towards European markets, where Musgrove believes there is a gap in the market for a premium gyms operator.
Bannatyne Group is chaired by Alan Jackson, who is also the chairman of gambling software-maker Playtech.
Jackson caused uproar earlier this week after it was revealed he had been awarded a 17 per cent pay rise at Playtech, just months after a remuneration report was rejected in a mass shareholder revolt.