Pure Gym is a budget gym operator that runs a network of low-cost fitness clubs across the UK and Europe. Its core offering is physical gym access, and it has implemented TrainSafe protocols and equivalent COVID-19-safe arrangements to reopen its estate. The company said its second-quarter performance was significantly impacted by gym closures during the UK coronavirus lockdown, though like-for-like member volumes and gym visits have been encouraging since reopening. To bolster its balance sheet it secured a £100m equity injection from shareholders Leonard Green Partners and boosted its Revolving Credit Facility by £50m, bringing total liquidity to £297m. Management says the funds are intended to provide a cash buffer against local or national lockdowns and to support a return to a growth strategy. CEO Humphrey Cobbold credited the team with preserving cash, refitting gyms for safety, and re-earning member trust.

Total raised

$194M

Funding rounds

2

Latest round

Debt Financing

Latest activity

Sep 2020