US private equity firm reportedly set to bid in £600m Pure Gym auction

US private equity firm KKR is reportedly going to put a bid in the £600m auction of Pure Gym, the Leeds-headquartered health and fitness chain.

According to Sky News, KKR is among a group of financial investors that are set to make offers for Britain’s biggest chain of health and fitness clubs ahead of a deadline on Thursday.

This comes just under a year since Pure Gym pulled out of an initial public offering due to what the company called “challenging IPO market conditions.”

Pure Gym was set to raise £190m on its admission to the London Stock Market, but later abandoned the move because the market volatility at that time was not in the long-term interests of the company and its stakeholders.

The chain’s major shareholder CCMP Capital Advisors first invested in Pure Gym in 2013.

Founded in 2008, Pure Gym operates more than 180 sites and a turnover of £160m.