Latest news with #DavidLloydLeisure
Spectator
31-07-2025
- Business
- Spectator
In defence of private equity
Spectator readers will not need me to tell them the meaning of the Latin 'cura terrae'. Taking care of the Earth was one of central arguments of last week's front-page feature against private equity. But Cura Terrae also happens to be the name of a business based in Sheffield. This business is an environmental services provider dedicated to helping preserve the world and the natural resources that we all love and cherish. One of its particular strengths is its water services division, where its team of specialists monitor water flow and quality across the UK. By doing so, they help to protect our rivers from the kind of water pollution which last week's article quite rightly highlighted. It is a great British success story, which, over the past three-and-a-half years – since its inception following investment from private-equity firm Palatine – has made five acquisitions, added over 60 per cent to its workforce, and made numerous improvements to its operations and services. The support from Palatine has helped Cura Terrae grow, develop and invest in a wide range of solutions to some of the industry's most challenging issues, and it is just one of many such success stories across the UK. The reality is I could fill this article with similar examples, covering every sector of the economy and every region of the UK. Private equity supports the growth of well-known businesses including health and fitness chain David Lloyd Leisure, global entertainment company Merlin and leading software group Visma. These businesses – and many others – demonstrate the value that private equity is delivering to Britain. In 2024 alone, £29.4 billion was invested in UK firms by private equity and venture capital, with six in ten of those companies located outside London. Across the UK, more than 2.5 million people work in businesses backed by the industry: nearly one in ten UK workers. The old stereotype of private equity was that it invested for the short term to 'flip' a business and make a quick buck. This is just not true. The average hold period of an investment in the UK is six years – significantly longer than many equities held by large shareholders and hedge funds. And because the industry is built on performance – and on returns generated when a business grows and succeeds – there is a fundamental alignment between investors, management and employees. If the company does well, everyone benefits. Of course, no industry is perfect. When firms get it wrong, they should be called out. And the private equity sector, like any other, must be held to high standards. But that is happening. Sir David Walker established guidelines for the industry in 2007 to increase disclosure and transparency in private equity-backed companies. These guidelines have been widely embraced, with many large private equity-backed firms disclosing information at a level that is comparable with companies in the FTSE 250. Almost all major private equity-backed firms in the UK now operate to similar standards of governance as any listed business. The old stereotype of private equity was that it invested for the short term to 'flip' a business and make a quick buck. This is just not true Of course, journalists are entitled to scrutinise different investment models. But when we look at the water industry specifically, the recent Independent Water Commission Final Report made clear that there are a wide variety of different investors in English water companies, including pension funds, sovereign wealth funds, global infrastructure conglomerates, asset managers and insurance companies. To suggest the water industry's challenges are due to private equity ignores the facts. Indeed, according to our own analysis, we have not found a single water company majority-owned by a private equity fund. The simple, straightforward – and actually quite boring – reality is that the modern private equity industry looks nothing like the 1980s financiers in braces, whose business was so-called 'corporate raiding' and 'asset stripping'. The private equity industry is investing in high streets, high tech, carbon capture and café chains. It is backing biotech firms in Oxford, zero-waste start-ups in Glasgow, and specialist engineering businesses in Leicester. At a time when state capacity is stretched and public delivery often lags, private capital is quietly stepping in to get things done. To return to our business in Sheffield: taking care of the Earth is a moral imperative. But it is also good business. That is why the private equity industry continues to invest in the UK's future – backing green growth, supporting entrepreneurs and helping rebuild prosperity from the ground up. Private equity brings more than just capital – it brings partnership, ambition and resilience. By crowding in global investment into British businesses, this industry creates a ripple effect. Investment unlocks investment, which leads to more growth and more vibrant local economies. The UK needs more of this industry, not less.
Yahoo
14-07-2025
- Health
- Yahoo
New podcast features city athletes using fitness to transform their lives
A podcast featuring the tales of local athletes, health professionals and everyday people who have used fitness to transform their lives has been launched in Southampton. Freedom Through Fitness is hosted by Megan Batchelor, who has a decade-plus career in the industry - from national gym groups like David Lloyd Leisure in Nursling to launching her own inclusive training facility Focused Personal Training in Swaythling. It spotlights how movement, strength, and self-belief can unlock a better quality of life, far beyond aesthetics. (Image: Supplied)READ MORE: Walk of the Week: A 5km historic hike around Portchester Castle The first episode features Kelly Friel, the international CrossFit athlete and Southampton powerhouse who tells her tale of starting CrossFit in her 30s, raising a family, and competing at the highest level. "It's a powerful reminder that fitness can unlock freedom at any age or stage of life," says host Megan, a long time advocate of fitness as a tool for empowerment, resilience and freedom. She added: "Fitness isn't just about dropping a dress size or looking good for summer. It's about building the capacity to live your life fully — to lift your kids without pain, return to work after illness, manage stress, feel confident again, and show up for yourself. 'We want this podcast to feel like sitting down with a coach, a friend, and someone who really gets it — all in one." (Image: Supplied) Megan's journey, which has included international titles in powerlifting has shaped a mission that rejects toxic gym culture and appearance-based marketing in favour of evidence-based coaching, compassionate support and community-led transformation. With a background in performance and communication, Megan brings an engaging and grounded voice to conversations that matter — from fitness for mental health to training through menopause, to the unspoken barriers many face when trying to reclaim their physical confidence. Although listeners can tune in from anywhere, the podcast is deeply rooted in the Southampton community, local residents whose stories are both relatable and remarkable — parents, business owners, former athletes, or people who never thought they'd enjoy training until it changed their lives. The podcast is available on all major platforms.
Yahoo
08-07-2025
- Business
- Yahoo
David Lloyd Leisure owner TDR Capital close to finalising £2bn 'sale'
The private equity backers of David Lloyd Leisure, the premium health and fitness clubs chain, are close to finalising a £2bn deal that will see it continue as the company's long-term owner. Sky News has learnt that TDR Capital, which has owned David Lloyd Leisure since 2013, is putting the finishing touches to a so-called continuation vehicle which effectively transfers ownership of the group from one of its funds to another entity which has many of the same investors. Banking sources said that TDR had lined up a string of major new investors to help fund the £800m of equity commitments required to finance the deal. Post Office latest: The remaining £1.2bn is in the form of David Lloyd Leisure's existing debt rolling over to the continuation vehicle. One banking source said on Tuesday that there had been over £1bn of demand for the equity portion of the transaction. David Lloyd Leisure is one of Europe's biggest health and fitness operators, with 134 clubs and more than 11,500 employees. Under TDR's ownership, it has expanded its site numbers by 50pc, including opening 30 venues in mainland Europe. In its last financial year, it recorded earnings before interest, tax, depreciation and amortisation of just over £230m - a one-third rise on the previous year. The chain now boasts more than 800,000 members, as of last month. People close to the company said its investment in spas and the introduction of popular wellness concepts such as meditation, yoga and tai chi have been partly responsible for its improved performance. They added that it had a strong pipeline of new clubs both in the UK and Europe, with 30 new openings planned in the coming years, and proposals to open more than 200 Padel courts across its sites. The decision to transfer ownership of David Lloyd Leisure to a continuation vehicle would allow new and existing investors the opportunity to benefit from future growth, according to insiders. It also offers limited partners, or investors, in the TDR fund in which David Lloyd Leisure is currently held the opportunity to realise their investment. TDR, which also owns Asda and Stonegate Group, Britain's biggest pub company, has explored a sale of David Lloyd Leisure in the past, including recently, but did not attract offers of a sufficient value, according to bankers. Jefferies is advising TDR on the continuation vehicle - which has become an increasingly common way for private equity firms to resolve issues relating to the ownership of long-held assets - and its negotiations with investors. A TDR spokesman declined to comment.
Sky News
08-07-2025
- Business
- Sky News
David Lloyd Leisure owner TDR Capital close to finalising £2bn 'sale'
The private equity backers of David Lloyd Leisure, the premium health and fitness clubs chain, are close to finalising a £2bn deal that will see it continue as the company's long-term owner. Sky News has learnt that TDR Capital, which has owned David Lloyd Leisure since 2013, is putting the finishing touches to a so-called continuation vehicle which effectively transfers ownership of the group from one of its funds to another entity which has many of the same investors. Banking sources said that TDR had lined up a string of major new investors to help fund the £800m of equity commitments required to finance the deal. The remaining £1.2bn is in the form of David Lloyd Leisure's existing debt rolling over to the continuation vehicle. One banking source said on Tuesday that there had been over £1bn of demand for the equity portion of the transaction. David Lloyd Leisure is one of Europe's biggest health and fitness operators, with 134 clubs and more than 11,500 employees. Under TDR's ownership, it has expanded its site numbers by 50pc, including opening 30 venues in mainland Europe. In its last financial year, it recorded earnings before interest, tax, depreciation and amortisation of just over £230m - a one-third rise on the previous year. The chain now boasts more than 800,000 members, as of last month. People close to the company said its investment in spas and the introduction of popular wellness concepts such as meditation, yoga and tai chi have been partly responsible for its improved performance. They added that it had a strong pipeline of new clubs both in the UK and Europe, with 30 new openings planned in the coming years, and proposals to open more than 200 Padel courts across its sites. The decision to transfer ownership of David Lloyd Leisure to a continuation vehicle would allow new and existing investors the opportunity to benefit from future growth, according to insiders. It also offers limited partners, or investors, in the TDR fund in which David Lloyd Leisure is currently held the opportunity to realise their investment. TDR, which also owns Asda and Stonegate Group, Britain's biggest pub company, has explored a sale of David Lloyd Leisure in the past, including recently, but did not attract offers of a sufficient value, according to bankers. Jefferies is advising TDR on the continuation vehicle - which has become an increasingly common way for private equity firms to resolve issues relating to the ownership of long-held assets - and its negotiations with investors.
