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Fitness First Holdings Ltd.

Private Company Ticker Symbol™: (FITFIRP)

Business Summary

Fitness First is a privately-held, private equity backed fitness club operator. Founded in 1993, Fitness First is headquartered in Poole, United Kingdom. Fitness First operates fitness clubs in the United Kingdom, Asia and Australia.

Jump to Fitness First Holdings Ltd.: Detailed Business Description for more details on Fitness First Holdings Ltd. products and services, financial structure, Fitness First Holdings Ltd. major business events, and more.

Overview & Corporate Organization

Basic Information

Company Tags:PE Backed
Year Founded:1993
Fiscal Year End:10/31
1YR Revenue Growth Rate:View %
3YR Revenue Growth Rate (CAGR):View %
1YR Employee Growth Rate:View %
3YR Employee Growth Rate (CAGR):View %
Address:58 Fleets Lane
City:Poole
State/Province:Dorset
Country:United Kingdom
Phone:View
Website:www.fitnessfirst.co.uk

Corporate Organization

Subsidiaries:
Fitness First Australia Pty Limited
Fitness First For Women Ltd.
Fitness First Limited
Brands:
Fitness First Group Ltd
Founders:
Christopher Pearce
Mike Balfour

Industry Information

Industry Codes

PICS™:8001
NAICS:View
SIC:View

PrivCo Industries (Sector > Industry > Sub-Industry)

Hospitality & Leisure > Athletics & Recreation

The PrivCo Industry Classification System™ (PICS) is our proprietary, modernized industry classification system, geared especially toward privately-held companies and including newer emerging sub-industries that are not reflected in other outdated industry classification systems, such as SIC and NAICS.

Ownership

PrivCo's Ownership table displays who owns Fitness First Holdings Ltd., including owner name, each type of owner (whether family, individual, private equity firm, etc.)
Owner NameType of Owner% Ownership Stake
ViewView
ViewView

Charts, Financials, and Statistics (Table Format)

Below are Fitness First Holdings Ltd. financials and other business metrics displayed in table format.
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Balance Sheet201220112010
Current AssetsViewViewView
Cash and Cash EquivalentsViewViewView
Accounts ReceivableViewViewView
InventoryViewViewView
Non-Current AssetsViewViewView
Property, Plant and EquipmentViewViewView
Long Term InvestmentsViewViewView
Deferred Tax AssetsViewViewView
Intangible AssetsViewViewView
Other Non-Current AssetsViewViewView
Total AssetsViewViewView
Current LiabilitiesViewViewView
Accounts PayableViewViewView
Short Term DebtViewViewView
Non-Current LiabilitiesViewViewView
Long Term DebtViewViewView
Total LiabilitiesViewViewView
Stockholders EquityViewViewView
Cash Flow Statement201220112010
Cash Flow From Operating ActivitiesViewViewView
Cash Flow From Investing ActivitiesViewViewView
Cash Flow From Financing ActivitiesViewViewView
Total Cash Flow (Net Change in Cash)ViewViewView
Income Statement201220112010200920082007200620052004
RevenuesViewViewViewViewView  £401,224,000£355,548,000
Total Operating ExpensesViewViewView      
Operating Income (Loss)ViewViewViewViewView  £40,176,000£37,479,000
EBITDAViewView ViewView    
EBITViewViewView    £5,626,000£15,562,000
Net Income (Loss)ViewViewView    (£2,793,000)£5,514,000
Other One-Off IncomeView1View       
Employee Figures2012201120102009200820072006200520042003
Total EmployeesViewViewViewViewViewViewView10,4219,2328,179
Productivity (Revenue/Employee)ViewViewViewViewView  £38,501£38,513 
Notes
Financial Notes:
*Fitness First Holdings Ltd. fiscal year end: 10/31
1Relates to loans waived... read more.
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Charts, Financials, and Statistics (Graphs)

Below are Fitness First Holdings Ltd. financials and other business metrics displayed in table format.
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Fitness First Holdings Ltd. Current Assets (£ MM, GBP):
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Fitness First Holdings Ltd. Cash and Cash Equivalents (£ MM, GBP):
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Fitness First Holdings Ltd. Accounts Receivable (£ MM, GBP):
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Fitness First Holdings Ltd. Inventory (£ MM, GBP):
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Fitness First Holdings Ltd. Non-Current Assets (£ MM, GBP):
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Fitness First Holdings Ltd. Property, Plant and Equipment (£ MM, GBP):
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Fitness First Holdings Ltd. Long Term Investments (£, GBP):
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Fitness First Holdings Ltd. Deferred Tax Assets (£ MM, GBP):
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Fitness First Holdings Ltd. Intangible Assets (£ MM, GBP):
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Fitness First Holdings Ltd. Other Non-Current Assets (£ MM, GBP):
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Fitness First Holdings Ltd. Total Assets (£ MM, GBP):
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Fitness First Holdings Ltd. Current Liabilities (£ MM, GBP):
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Fitness First Holdings Ltd. Accounts Payable (£ MM, GBP):
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Fitness First Holdings Ltd. Short Term Debt (£ MM, GBP):
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Fitness First Holdings Ltd. Non-Current Liabilities (£ MM, GBP):
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Fitness First Holdings Ltd. Long Term Debt (£ MM, GBP):
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Fitness First Holdings Ltd. Total Liabilities (£ MM, GBP):
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Fitness First Holdings Ltd. Stockholders Equity (£ MM, GBP):
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Fitness First Holdings Ltd. Cash Flow From Operating Activities (£ MM, GBP):
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Fitness First Holdings Ltd. Cash Flow From Investing Activities (£ MM, GBP):
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Fitness First Holdings Ltd. Cash Flow From Financing Activities (£ MM, GBP):
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Fitness First Holdings Ltd. Total Cash Flow (Net Change in Cash) (£ MM, GBP):
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Fitness First Holdings Ltd. Revenues (£ MM, GBP):
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Fitness First Holdings Ltd. Total Operating Expenses (£ MM, GBP):
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Fitness First Holdings Ltd. Operating Income (Loss) (£ MM, GBP):
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Fitness First Holdings Ltd. EBITDA (£ MM, GBP):
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Fitness First Holdings Ltd. EBIT (£ MM, GBP):
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Fitness First Holdings Ltd. Net Income (Loss) (£ MM, GBP):
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Fitness First Holdings Ltd. Other One-Off Income (£ MM, GBP):
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Fitness First Holdings Ltd. Total Employees:
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Fitness First Holdings Ltd. Productivity (Revenue/Employee) (£, GBP):
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Mergers & Acquisitions

PrivCo's M&A Activity table for Fitness First Holdings Ltd. displays the mergers and acquisitions involving Fitness First Holdings Ltd., for example if Fitness First Holdings Ltd. acquired or was acquired by another entity, any leveraged buyout (LBO), etc.
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DateStatusTargetBuyerDeal TypePrice
DetailsApr. 2003CompletedFitness First Holdings Ltd.1Cinven Ltd.
Fitness First management team
Acquisition
Leveraged Buyout (LBO)
Management Buyout (MBO)
Take Private
£204,000,000
DetailsSep. 2005CompletedFitness Exchange Ltd.2Fitness First Holdings Ltd.Acquisition
Add-On
Unspecified
DetailsSep. 2005CompletedFitness First Holdings Ltd.BC Partners Ltd.Secondary Sale
Acquisition
Leveraged Buyout (LBO)
Majority Acquisition
£835,000,000
DetailsApr. 2012For SaleView3ViewAcquisition
Asset Sale
View
DetailsJun. 2012CompletedView4ViewAcquisition
Debt/Equity Swap
Majority Acquisition
View
DetailsJun. 2012For SaleViewViewAcquisition
Asset Sale
View
DetailsSep. 2012CompletedViewViewAcquisition
Asset Sale
View
Notes
1The management team would invest GBP 18M for an 18% stake in the new business. - Details →
2The Fitness Exchange portfolio consisted of 10 clubs, nine of which are in Central London.All 10 of the Fitness Exchange clubs were rebranded and benefited from more than £4m of investment, which went go towards improving both the facilities and equipment. - Details →
3Fitness First is looking to...Read More →
4The lenders will own over...Read More →
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Public / Private History (PPH™)

Many private companies were once public or have attempted to go public in the past. Since mapping a private company's Public/Private History (PPH)™ can often be complicated and take time, we've created PrivCo's Public/Private History (PPH)™ Table to assist.
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DateDeal TypeActionResulting StatusValuationAmount RaisedPublic Ticker
DetailsApr. 2003Acquisition
Leveraged Buyout (LBO)
Management Buyout (MBO)
Take Private
Take PrivatePrivate2£402,000,000
DetailsOct. 2011ViewViewView1ViewViewView
Notes
1Fitness First postponed its...Read More →
2The management team would invest GBP 18M for an 18% stake in the new business. - Details →
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Detailed Business Description: Fitness First Holdings Ltd.

PrivCo's Detailed Business Description explains the business operations, products and services, financial structure, and major business milestones of Fitness First Holdings Ltd. The first portion of PrivCo's Detailed Business Description is displayed below, free to view to non-subscribers.
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Fitness First Revenue Model

Fitness First generates revenue through monthly membership fees paid by club members. Membership prices vary upon the location of the gym. Fitness First is also a franchiser of its business model in the Middle East, and collects franchise fees from its franchisees.

Fitness First has had significant success in rapid expansion with the help of financial sponsors, leveraging its existing businesses and adopting its business model in new markets. However, this expansion model is flawed, as Fitness First's consumer-centric business model is heavily dependent on economic performance.

Under the ownership of BC Partners, Fitness First's second private equity owner in the past decade, Fitness First was heavily levered and its attempts to expand backfired when the global economy went into recession. Memberships declined at a massive scale as consumers cut back excess spending, and attempts at an IPO for financing failed due to the company's risky balance sheet and… Continue Reading →





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Supplemental Resources

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