$116m raised in Town Sports’ IPO | exerciseprofessionals.net news

Read
the latest
issues

Get HCM digital magazine and ezines FREE
Sign up here ▸

Jobs News Features Products Magazine Advertise

NEWS

$116m raised in Town Sports’ IPO

POSTED 07 Jul 2006 . BY

Town Sports International Holdings Inc. (TSI) – which operates 145 fitness clubs in the US and Switzerland – has begun trading on the Nasdaq exchange, generating proceeds of US$116m (£64m).

TSI announced its initial public offering on 2 June, with 8.95 million shares of common stock being priced at US$13 (£7) per share. The group is selling 7.65 million shares, with the remaining 2.35 million coming from stockholders selling to certain specified purchasers.

TSI operates under the brand names New York Sports Clubs, Boston Sports Clubs, Washington Sports Clubs and Philadelphia Sports Clubs.

It currently operates 142 clubs with around 432,000 members and aims to be ‘the most recognised health club network’ within each of the four cities where it operates.

RELATED STORIES

MORE NEWS

Belgian start-up, Moonbird, is on a mission to teach the world to breathe

Moonbird is a tactile breathing coach, which provides real-time biofeedback, measuring heart rate and heart rate variability. Studies show it can reduce anxiety and improve sleep quality.

Active Oxfordshire secures £1.3 million to tackle shocking levels of inequality

Active Oxfordshire has received £1.3 million to tackle inactivity and inequality and launch a new programme for children.

Barry’s considers next investor move, as North Castle Partners looks to exit

Barry’s – known for its HIIT workouts combining treadmills and weights – is thought to be looking at strategic options, including taking on a new backer.

Providence Equity Partners takes control of VivaGym and its Fitness Hut brand

US private equity fund, Providence Equity Partners, is acquiring a majority stake in VivaGym from Bridges Fund Management, which will exit as a shareholder. Financial terms have not been disclosed.

+ More news

LATEST JOBS

Fitness Motivator and Personal Trainer
Everyone Active

Salary:
Job location: Market Rasen

Fitness Motivator and Personal Trainer
Everyone Active

Salary:
Job location: Gainsborough

+ More jobs

FEATURED SUPPLIERS

Sue Anstiss' Game Changers podcast headed for Elevate 2024

Join us at Elevate from 12-13 June in London for a special one-off live recording of The Game Changers Podcast with Sue Anstiss, CEO of Fearless Women. [more...]

Group exercise complaints now a thing of the past for Reynolds Group

Complaints about group exercise have become a thing of the past for the Reynolds Group thanks to its partnership with CoverMe, a digital platform that simplifies group exercise and PT management for clubs and instructors. [more...]

+ More featured suppliers

COMPANY PROFILES

Mindbody

Mindbody is the leading business management software for the fitness and wellness industries. [more...]

Perfect Gym Solutions S.A.

Perfect Gym is a global software provider specialising in fitness and recreation facility management [more...]

+ More profiles

CATALOGUE GALLERY

Physical Company..

+ More catalogues