The Gym Group works with FTI Consulting for £250m IPO

Budget gym operator The Gym Group has worked with FTI Consulting for its new £250m flotation.

The Gym Group: Weighing up 15 to 20 openings per year after IPO
The Gym Group: Weighing up 15 to 20 openings per year after IPO

FTI provided financial comms support around the Mainmarket listing of the company, which operates 66 gyms with a membership of 363,000 people as of 30 September.

The Gym Group raised £125 million from new investors via the listing on Monday, 9 November, which will be used to fund an expansion plan that includes the opening of 15 to 20 gyms in 2015 and the same number each year for the "medium term".

The Gym Group was founded in 2007 by former professional squash player John Treharne. The business focuses on low-cost ‘24/7’ gyms, a business model that has enabled it to take market share from its more established rivals.

The firm's website lists Alison Bledge of Maidenhead's Promote PR – formerly PR manager at Legoland Windsor – as its consumer PR contact.

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