Gym chain EoS Fitness explores $1 billion sale, sources say
NEW YORK, April 16 (Reuters) - EoS Fitness is exploring a sale that could value the fast-growing gym chain at around $1 billion, including debt, according to people familiar with the matter.
The company, which is owned by private equity firm BRS & Co, is working with investment bank Piper Sandler to gauge interest from potential buyers which include other private equity firms, the sources said, requesting anonymity as the discussions are confidential.
Piper Sandler declined to comment. EoS and BRS did not immediately respond to requests for comment.
EoS Fitness is a budget fitness club that targets middle-income customers, with memberships as low as $9.99 per month.
Private equity firms are big investors in the fitness and wellness industry due to the predictable cash flows from subscription memberships. Earlier this week, private equity firm Leonard Green & Partners bought peer gym chain Crunch Fitness, which had been exploring a sale.
Crunch uses a franchised business model whereas EoS locations are company-owned. EoS has over 175 locations across Arizona, Florida, Georgia, Nevada, Southern California, Texas and Utah.
New York-based middle market investment firm BRS acquired EoS with another investment firm in 2015 when the fitness club only had 16 locations.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Powys County Times
6 hours ago
- Powys County Times
Evri to hire 5,000 more couriers after agreeing DHL tie-up
Evri is planning to hire 5,000 couriers in a fresh recruitment drive as the parcel giant takes on rivals after entering the business letter market. The Yorkshire-based firm recently announced it was joining forces with DHL's UK ecommerce arm to form one of the country's biggest delivery firms. It said the new roles would bring its total self-employed courier network to 33,000, its highest number. The roles will be available throughout the UK, with a focus on regions including Plymouth, Bury, Hastings, Dover and Scarborough. About 1,000 of the new jobs will be permanent, while the rest are set to be flexible positions to cater to the typically busy summer months and other peak periods for deliveries. Couriers who commit to working five or more days a week, including Saturday and Sunday, are also given the chance to opt in to its revamped 'Evri Plus' scheme, which includes paid holiday and automatic enrolment into a pension scheme. Evri, which was previously part of the Hermes parcel group, was bought by US private equity firm Apollo for around £2.7 billion last year. It announced plans last month to merge with rival DHL's UK ecommerce business to create a combined company set to deliver more than one billion parcels and one billion letters each year. The deal means Evri will enter the UK business letter market for the first time, bolstering its competition to Royal Mail. Evri has spent £32 million on improving its customer service offering and has seen an improvement in its ratings over recent years, but has said there is 'more to do' to improve with customers continuing to report delivery issues. Chief executive Martijn de Lange said: 'We know that service, reliability and quality are critical factors for our clients and consumers, and so by expanding our self-employed network further, we remain focused on delivering in each of those areas.' Couriers typically earn about £20.90 an hour on average, according to Evri.
Glasgow Times
6 hours ago
- Glasgow Times
Evri to hire 5,000 more couriers after agreeing DHL tie-up
The Yorkshire-based firm recently announced it was joining forces with DHL's UK ecommerce arm to form one of the country's biggest delivery firms. It said the new roles would bring its total self-employed courier network to 33,000, its highest number. The roles will be available throughout the UK, with a focus on regions including Plymouth, Bury, Hastings, Dover and Scarborough. About 1,000 of the new jobs will be permanent, while the rest are set to be flexible positions to cater to the typically busy summer months and other peak periods for deliveries. Couriers who commit to working five or more days a week, including Saturday and Sunday, are also given the chance to opt in to its revamped 'Evri Plus' scheme, which includes paid holiday and automatic enrolment into a pension scheme. Evri is to join forces with DHL's UK ecommerce arm (DHL/PA) Evri, which was previously part of the Hermes parcel group, was bought by US private equity firm Apollo for around £2.7 billion last year. It announced plans last month to merge with rival DHL's UK ecommerce business to create a combined company set to deliver more than one billion parcels and one billion letters each year. The deal means Evri will enter the UK business letter market for the first time, bolstering its competition to Royal Mail. Evri has spent £32 million on improving its customer service offering and has seen an improvement in its ratings over recent years, but has said there is 'more to do' to improve with customers continuing to report delivery issues. Chief executive Martijn de Lange said: 'We know that service, reliability and quality are critical factors for our clients and consumers, and so by expanding our self-employed network further, we remain focused on delivering in each of those areas.' Couriers typically earn about £20.90 an hour on average, according to Evri.
North Wales Chronicle
6 hours ago
- North Wales Chronicle
Evri to hire 5,000 more couriers after agreeing DHL tie-up
The Yorkshire-based firm recently announced it was joining forces with DHL's UK ecommerce arm to form one of the country's biggest delivery firms. It said the new roles would bring its total self-employed courier network to 33,000, its highest number. The roles will be available throughout the UK, with a focus on regions including Plymouth, Bury, Hastings, Dover and Scarborough. About 1,000 of the new jobs will be permanent, while the rest are set to be flexible positions to cater to the typically busy summer months and other peak periods for deliveries. Couriers who commit to working five or more days a week, including Saturday and Sunday, are also given the chance to opt in to its revamped 'Evri Plus' scheme, which includes paid holiday and automatic enrolment into a pension scheme. Evri, which was previously part of the Hermes parcel group, was bought by US private equity firm Apollo for around £2.7 billion last year. It announced plans last month to merge with rival DHL's UK ecommerce business to create a combined company set to deliver more than one billion parcels and one billion letters each year. The deal means Evri will enter the UK business letter market for the first time, bolstering its competition to Royal Mail. Evri has spent £32 million on improving its customer service offering and has seen an improvement in its ratings over recent years, but has said there is 'more to do' to improve with customers continuing to report delivery issues. Chief executive Martijn de Lange said: 'We know that service, reliability and quality are critical factors for our clients and consumers, and so by expanding our self-employed network further, we remain focused on delivering in each of those areas.' Couriers typically earn about £20.90 an hour on average, according to Evri.
