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NEWSWIRE
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U.S. equity firm eyes British chain |
By John Craig, Editor - 06.05.2008
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DENVER - KSL Capital Partners, a Denver-based firm that acquired the Western Athletic Clubs chain in March, is reportedly raising money as it enters the bidding for the struggling British health club operator Esporta.
The Rocky Mountain News this week cited a report by the Sunday Times of London that identified KSL as one of several bidders for the Esporta Group, the bankrupt operator of 55 full-service clubs in Britain and Ireland. The company is estimated to be worth about $885 million, including real estate.
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Meanwhile, the newsletter Private Equity Hub speculated that KSL would leverage the deal but needs to raise money "to curry favor" with Esporta owner Simon Halabi, who bought the chain in 2006 for $875 million.
Several British health club operators were said to also be among the Esporta bidders.
KSL focuses on the hospitality and recreation industries. Before acquiring Western Athletic Clubs, which has eight luxury gyms in the Bay Area and one in San Diego, it paid $1.8 billion in 2006 for ClubCorp Inc., which runs more than 170 golf courses and several resorts.
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