Tagged: Contract

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KKR muscles in on £600m auction of Pure Gym fitness chain – Sky News

The buyout giant which took Boots private more than a decade ago has muscled in on the £600m-plus auction of Pure Gym, Britain’s biggest chain of health and fitness clubs.

Sky News understands that KKR is among a pack of financial investors that will table indicative offers for Pure Gym ahead of a deadline on Thursday.

The sale of Pure Gym comes a year after the company abandoned a public listing, citing difficult market conditions in the wake of the EU referendum.

Pure Gym’s main shareholder, CCMP Capital Advisors, is working with Harris Williams and Jefferies on the auction, which City sources say is likely to be wrapped up by the end of the year.

CCMP, which has controlled Pure Gym since 2013, has overseen a period of strong growth at Pure Gym, which now trades from more than 170 clubs.

Its relentless expansion comes after a period of turbulence in the UK gyms sector, with operators such as Fitness First being forced into financial restructurings and takeovers.

A successful sale of Pure Gym would crystallise a windfall for Sir Chris Hoy, the six-time Olympics gold medallist, who has a small shareholding in the business.

Announcing its 2016 results in March, Humphrey Cobbold, Pure Gym’s chief executive, said: “Almost a million people currently enjoy our affordable and flexible offer and we’ve introduced a variety of different membership options to suit a wide range of personal circumstances.

“No operator in the history of the gym and fitness sector in the UK has ever achieved this scale of membership.

“For 2017, expansion remains our priority with plans for 20 to 25 openings this year in total.

“Despite our size, we retain a ‘challenger brand’ entrepreneurial spirit with a relentless focus on ensuring our offer appeals to 21st century consumers who want quality and value for money, the flexibility of a no contract offer and facilities they actually use.”

KKR and Pure Gym declined to comment.

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Tip: How to Make the Cable Crunch Really Work

If you can do a ton of weight or a ton of reps on this exercise, you’re doing it wrong. Here’s how to make it really work.

How-to-make-the-cable-crunch-really-work

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If you can do a ton of weight or a ton of reps on this exercise, you’re doing it wrong. Here’s how to make it really work.

Isolation ab exercises are mostly a way to improve the mind-muscle connection with the abs. When doing isolation work, the goal is not to use more weight or do more reps – it’s actually to try to fail with as few reps as possible!

This indicates that you’re good at tensing your abs hard, so they fatigue sooner. If you have to do 20 or 30 reps to feel your abs, you suck at recruiting them.

When doing an isolation exercise like the cable crunch, there are two things you have to do:

  1. Before starting a rep, contract the abs as hard as possible. Imagine you’re about to get punched in the gut. Every rep should start this way.
  2. When initial tension is established, CURL your torso. (It’s not a flexion, it’s a curl/rolling action). When you roll forward and reach the end of the range of motion, again tense the abs as hard as you can and return to the starting position.

The Most Important Point

The goal isn’t really to “crunch” but to shorten the distance from the pelvis to the sternum. Your hips come forward as your upper body “crunches.” Try to touch your junk to your chest.

Related:  Ugly Ab Training[2]

Related:  Blitz Cycles for Abs[3]

References

  1. ^ Christian Thibaudeau (www.t-nation.com)
  2. ^ Related:  Ugly Ab Training (www.t-nation.com)
  3. ^ Related:  Blitz Cycles for Abs (www.t-nation.com)
  4. ^ Follow Christian Thibaudeau on Twitter (twitter.com)