Advised LA Fitness on £50m sale and leaseback
June 30, 2006
Health and Fitness chain LA Fitness, backed by leading private equity group MidOcean Partners, announced the completion of the sale of MOP Acquisitions (PropCo) Limited to a subsidiary of R20 Ltd, the private investment vehicle of Robert Tchenguiz for a price in the region of £50m.
Coffer Corporate Leisure acted on behalf of LA Fitness and MidOcean Partners on the creation and subsequent disposal of the PropCo which comprised 15 health and fitness clubs. The transaction formed the lions share of the funding of the purchase of Crown Sports PLC which was acquired by LA Fitness in February. Crown Sports comprised 21 health and fitness clubs trading as Dragons.