Fitness First proprietor Fitness & Lifestyle Group reportedly up on the market by Quadrant PE because it struggles with hefty money owed

Fitness & Lifestyle Group, which additionally owns Barry’s Bootcamp, Zap Fitness and Goodlife Health Clubs, might quickly come underneath new possession as its guardian firm Quadrant Private Equity appears to be like to dump the fitness center large.

The Australian Financial Review’s Street Talk column on Wednesday reported that JPMorgan is making ready a two-stage public sale course of which can launch in early 2026.

It comes as Fitness & Lifestyle Group reported a $161m loss for the 12 months to June this 12 months.

However, that is an enchancment on the $215m loss it suffered within the 2024 monetary 12 months.

The firm has been suffering from crushing debt it has been pressured to reckon with after briefly shutting up store through the pandemic.

The firm was capable of restructure its $2.2b of debt final month so it might probably lengthen its cost timeline from the 2026 monetary 12 months to 2028 through help of its lenders HPS, Westpac and HSBC.

The sale comes because the health sector sees an array of buyouts and mergers.

A US-based non-public fairness TSG Consumer Partners bought fitness center operator EoS Fitness six months in the past whereas one other agency Leonard Green & Partners acquired a majority curiosity in Crunch Fitness.

Quadrant bought Fitness & Lifestyle Group in 2016 and purchased Jetts and Fitness First the next 12 months.

The firm spans throughout six manufacturers round 330 places in 4 international locations, making it the biggest fitness center group within the Asia-Pacific area.

It has about 6000 staff throughout the area.