A sale will only be considered by if it draws a “sufficiently attractive valuation” for TDR, which is aiming for a £2bn price tag, sources familiar with the situation told Sky News,
TDR Capital is reportedly mulling a sale of its health and fitness business David Lloyd Leisure.
The private equity firm is understood to have drafted in Morgan Stanley to advise on potential suitors for the business, Sky News reported.
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David Lloyd Leisure has over 130 clubs across the country and is trading well despite people cutting back on gym membership during the cost of living crisis.
TDR Capital bought the leisure firm back in 2013 for £750m.
TDR Capital has fingers in a slew of popular UK businesses including Pizza Express and Stonegate pub company, and also owns Asda as part of a joint venture with the billionaire Issa Brothers.
Source: CITY A.M.
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