28 Nov 2017
Stock market floatation back on agenda for énergie Group
BY Deven Pamben
Fitness brand énergie Group could float on the stock market or sell shares to a private equity company within two years, CEO Jan Spaticchia has revealed.
The group scrapped initial public offering (IPO) plans in 2012 due to the volatility of the marketplace, but in an interview with Health Club Management, Spaticchia said a floatation could be revisited.
“There will come a point in the next 12 to 24 months when you will see us look to crystallise the value of the business," he said. "This could be through an IPO or the sale of some stock to a private equity company. It could be either, so watch this space.”
Last year, the group sold more than three per cent of the business through the crowdfunding site Crowdcube, in a deal that allowed franchisees to become shareholders.
The transaction valued the business at £15m (US$19.9m, €16.8m).
Spaticchia revealed énergie's plans to grow its international presence, with a contract about to be signed for its first site in Africa – in Nairobi, Kenya.
It will also expand its presence in Ireland by 15 to 20 sites over the next 12 months, from its existing 11 clubs.
énergie also has two gyms opening in Latvia and one in Poland, with “a major surge into the Polish market” expected next year.
As reported in August, a rebrand of its UK clubs is ongoing, which includes the installation of its functional fitness concept The Yard.
To read the full interview, click here.
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