PureGym has all but regained its membership levels from before the pandemic
PureGym, the leading gym chain in the UK, is weighing up an IPO as it seeks to expand its operations further.
With the support of Leonard Green & Partners, the American private equity company, PureGym is examining the best ways for the company to raise funds, including in the “public markets”.
In an update, PureGym says it is in a strong position to capitalise on the recovery from the pandemic, while some of its competitors have struggled through the demands presented by the pandemic. Its ambition is to open new locations across the UK, as well as investing in new sites.
Demand for gym memberships has seen a mini-resurgence during the pandemic, which has encouraged PureGym to take such a positive outlook.
PureGym has all but regained all of its membership levels from before the pandemic, while the total number of people who visited in June were at 91% of the level seen during the same month two years ago.
A spokeswoman for the company said: “The Covid-19 pandemic has heightened the importance that people place on their health and well-being and both member response to reopening and new joiner rates have demonstrated that underlying demand for gyms remains strong.”