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400,000+ READERS leisure opportunities 17 SEPTEMBER – 30 SEPTEMBER 2013 ISSUE 615 Daily news & jobs: www.leisureopportunities.co.uk DLL says it’s in great shape despite drop in value


David Lloyd Leisure (DLL) has responded to comments about the change in the value of the business following its recent sale to private equity group TDR Capital. Although the terms of the


deal weren’t disclosed, it’s thought DLL was sold by London & Regional and joint shareholder Caird Capital for around £750m. T e sale comes six years


multiple of over 13 - you’d never see that today unless you were a tech company. “To move the business on


to an investor interested in putting capital into it, they’ve got the price that they have.” David Lloyd says it has


The Gym Group


after London & Regional joined up with HBOS to pay Whitbread £925m for DLL in June 2007. It had already pur- chased Next Generation for £101.7m in May 2006. It then merged the two groups, creat- ing a total investment value of £1.026bn. T is means the TDR deal saw London and Regional taking a £276.7 hit at disposal. DLL is keen to point out that this value diff erence refl ects the mood of the market more


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DLL’s Scott Lloyd says the team at TDR have an enviable track record of investment


than the state of the business. A spokesperson told Leisure Opportunities, “We’re obviously in a diff erent climate for fi nancial deals from 2007, with diff erent multiples applying. DLL was bought by London & Regional on a EBITDA


BIG Group touches down in the UK


TGG_Recruit_Leaflet_AW.indd 1 See page 24 GET


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Benjamin Yong, CEO of Malaysian hospital- ity business T e BIG Group, has told Leisure Management the company is planning to make its debut in the UK with the development of a heritage-listed restaurant hotel in Somerset. T e project – called Langford Fivehead – will have eight rooms and a restaurant. It’s the fi rst overseas business for the group,


that was founded by Yong in 2011. In an exclusive interview, Yong told Leisure


Management he plans to set up a supply chain with farmers in Somerset so he can export produce to Kuala Lumpur for his restaurants and supermarkets. He’s also plan- ning a rollout of his Plan b cafes and Ben’s


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thegym Benjamin Yong is aiming for global expansion


restaurant concepts in London next year. Plan b is based on a New York deli-meets- Melbourne café concept, while Ben’s restaurant is modelled on a home-styled environment. Details: http://lei.sr?a=U5O6t


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Fi


performed well over the last fi ve years: EBITDA has improved from £77m in 2007 to £90m for the last full fi nancial year, while the number of sites has increased from 78 in the UK and nine overseas - a total of 87 clubs in 2007 – to 81 clubs in the UK and 10 overseas with three new David Lloyd Studios, making a total of 94


sites today. Net debt has been reduced and now stands at £620m against £800m in 2007. T e takeover sees TDR gain control of a chain of 94 clubs, with membership fi gures standing at 440,000. Continued on back cover


24-26 Sept 2013 · NEC Birmingham


ISSUE


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