UK private fitness sector now worth ‘north of £15bn’
by Jak Phillips | 23 Nov 2015
The Gym Group IPO will give 'confidence to investors who see the low cost model as a worthwhile investment,' says Mazars' Gareth Jones / Camilla Treharne
The successful IPO of The Gym Group this month is likely to prove the catalyst for renewed investor interest in the private gym sector, with the prospect of further listings.
That’s the view of fitness industry analyst Gareth Jones, who says that after looking at the financial aspects of the Gym Group listing, “there is an argument to suggest that the private fitness sector is worth north of £15bn.”
Jones – who is head of leisure at global audit, accounting and consulting group Mazars – said in a blog post for ukactive that the £250m valuation of the Gym Group will give “confidence to investors who see the low cost model as a worthwhile investment, and are prepared to pay a premium to be involved.”
The Gym Group shares have risen steadily since trading began at 195p on 9 November. By close of market on Friday (20 November), the price had hit 205p after just two weeks of trading, with several analysts tipping the shares to perform strongly.
Having tracked the IPO closely, Mazars is also currently working on a project with ukactive to calculate the true value of the wider physical activity sector – although a figure is not expected to be anounced until next year. Speaking at the Flame conference this summer, ukactive chair Tanni
said the ability to produce such a figure would see the physical activity sector broaden its appeal to investors and gain an even bigger wingspan.
In his analysis of the Gym Group IPO, Jones wrote that the “successful float of one company does not signal an avalanche of similar floats,” but noted that many of The Gym Group’s rivals will be watching closely. He said the potential £15bn value of the industry is something they may wish to take advantage of “sooner rather than later,” particularly those with private equity investors to satisfy.
“The flotation of The Gym Group has shown the appetite for investment into the physical activity sector, reinforcing the continuing success of the low cost gym model,” concluded Jones.
“How the IPO could assist with the expansion of The Gym Group from its current 66 sites will be keenly watched by competitors and welcomed by those who see the huge potential of the low-cost model driving the growth of the sector.”
The successful IPO of The Gym Group this month is likely to prove the catalyst for renewed investor interest in the private gym sector, with the prospect of further listings. That’s the view of fitness industry analyst Gareth Jones, who says that after looking at the financial aspects of the Gym Group listing, “there is an argument to suggest that the private fitness sector is worth north of £15bn.” Jones
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