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Australian gym network acquired

Australian gym network acquired

Mark McNamara

Two firms have advised on the acquisition of one of Australia’s largest health club businesses by a private equity company.

Firms: King & Wood Mallesons (Quadrant Private Equity); Gilbert + Tobin (Ardent Leisure’s health club business)

Deal: Quadrant Private Equity has acquired Ardent Leisure’s health club business.

Value: $260 million

Area: M&A

Key players: The team advising Quadrant Private Equity was led by King & Wood Mallesons partner Mark McNamara, with assistance from special counsel Alex Elser and associates Josh Chalkley and Stephanie Daaboul.

Partner Yuen-Yee Cho advised on the debt aspects of the deal, with senior associate Will Stawell, solicitor Dan Flanagan and law graduate Chris Markenzinis, while partner Tim Sherman advised on the tax matters of this acquisition.

Deal significance: Quadrant Private Equity is a private equity firm which has made significant investments since its inception in 1996.

This latest acquisition of Ardent Leisure’s health club business will see brands such as Goodlife Health Clubs and Hypoxi fall under the firm’s banner.

“We are pleased to be able to support our long-standing client, Quadrant, on another important acquisition in Australia,” King & Wood Mallesons partner Mark McNamara said.

“Australia has seen strong growth in the lifestyle and leisure sectors and this acquisition is well-placed to leverage that growth.”

 

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