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David Lloyd Leisure acquires German operator Hamburg Meridian
31 Jan 2020 . BY Tom Walker....
Hamburg Meridian operates eight premium health and spa clubs in Germany
Photo: Hamburg Meridian
We have ambitious plans to further invest in and further develop the clubs
– Glenn Earlam
David Lloyd Leisure (DLL) has acquired the Hamburg Meridian Group, which operates eight premium health and spa clubs in Germany.

The deal comes 18 months after DLL bought its first German club – in Bad Homburg in 2018 – and is "the next step" in the company's ambitious plans to expand further into the German market and across Europe.

The eight Meridian clubs currently have nearly 39,000 members between them, bringing the total number of members across the DLL portfolio of clubs to 660,000.

DLL plans to invest more than €20m (£17m) in the clubs to further develop their premium wellness offer.

The deal will see Hamburg Meridian's managing partner Leo Eckstein – who has managed the Meridian Group for 20 years and has also been co-owner since a management buy-out initiated by him at the beginning of 2007 – selling his shares to DLL.

Eckstein is credited for picking up the ailing Meridian Group in 2000 – with three clubs and 13,000 members – and transforming it to its current size with eight clubs and nearly 39,000 members.

In 2017 Eckstein, who is 61 years old, announced that he wanted to place the management of the company in younger hands and has since then systematically trained a new, younger management team with Christin Lüdemann (45) and Andre Nagel (43), who now manage the operative business independently.

Eckstein will continue to oversee the transition until March 2020, when he will retire from the management. He will then continue to act as a consultant on an ongoing basis to support DLL’s future expansion plans.

In December 2014, Eckstein oversaw a deal for AF Eigenkapitalfonds für deutschen Mittelstand GmbH & Co. KG, advised by Munich-based AFINUM Management GmbH, to invest in the Meridian Group with the aim of financing the construction and start-up of the new Frankfurt Skyline Plaza and Hamburg-Barmbek facilities.

The investment strengthened Meridian's position as the German market leader in the premium club segment.

In the five years since its entry, both the Group's sales and earnings have increased significantly. AFINUM is now passing on its stake to DLL.

With the sale to DLL, AFINUM and Eckstein expect "a successful continuation of Meridian Group’s development and a further expansion of it’s leading market position in the premium segment in Germany".

Glenn Earlam, chief executive of DLL, said: “The Meridian Group is a strong and well-respected operator in the German health and fitness industry, and is a key strategic acquisition for David Lloyd Leisure.

"We have ambitious plans to further invest in and further develop the clubs, and look forward to meeting the Meridian members and team, and sharing our vision for the future.

"There is a high demand for premium spa and fitness clubs in Germany and so it is an attractive market for us to expand into, as has been demonstrated by the success of our first club in Bad Homburg near Frankfurt. We continue to look for further opportunities to expand the David Lloyd Leisure concept across Germany.”

Leo Eckstein, Meridian Managing Partner/CEO added: "With AFINUM as an always responsive sparring partner with a great understanding for the needs of a medium-sized company, we have succeeded in gradually but persistently aligning our organization to new opportunities and challenges in the market.

"In combination with the positive effects of the successful expansion, we have significantly increased turnover, result and cash flow in recent years and hand over a very healthy and future-oriented company".

• For a full interview with Glenn Earlam, look out for the HCM March issue
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Jobs   News   Products   Magazine
PRODUCT NEWS
David Lloyd Leisure acquires German operator Hamburg Meridian
31 Jan 2020 . BY Tom Walker....
Hamburg Meridian operates eight premium health and spa clubs in Germany
Photo: Hamburg Meridian
We have ambitious plans to further invest in and further develop the clubs
– Glenn Earlam
David Lloyd Leisure (DLL) has acquired the Hamburg Meridian Group, which operates eight premium health and spa clubs in Germany.

The deal comes 18 months after DLL bought its first German club – in Bad Homburg in 2018 – and is "the next step" in the company's ambitious plans to expand further into the German market and across Europe.

The eight Meridian clubs currently have nearly 39,000 members between them, bringing the total number of members across the DLL portfolio of clubs to 660,000.

DLL plans to invest more than €20m (£17m) in the clubs to further develop their premium wellness offer.

The deal will see Hamburg Meridian's managing partner Leo Eckstein – who has managed the Meridian Group for 20 years and has also been co-owner since a management buy-out initiated by him at the beginning of 2007 – selling his shares to DLL.

Eckstein is credited for picking up the ailing Meridian Group in 2000 – with three clubs and 13,000 members – and transforming it to its current size with eight clubs and nearly 39,000 members.

In 2017 Eckstein, who is 61 years old, announced that he wanted to place the management of the company in younger hands and has since then systematically trained a new, younger management team with Christin Lüdemann (45) and Andre Nagel (43), who now manage the operative business independently.

Eckstein will continue to oversee the transition until March 2020, when he will retire from the management. He will then continue to act as a consultant on an ongoing basis to support DLL’s future expansion plans.

In December 2014, Eckstein oversaw a deal for AF Eigenkapitalfonds für deutschen Mittelstand GmbH & Co. KG, advised by Munich-based AFINUM Management GmbH, to invest in the Meridian Group with the aim of financing the construction and start-up of the new Frankfurt Skyline Plaza and Hamburg-Barmbek facilities.

The investment strengthened Meridian's position as the German market leader in the premium club segment.

In the five years since its entry, both the Group's sales and earnings have increased significantly. AFINUM is now passing on its stake to DLL.

With the sale to DLL, AFINUM and Eckstein expect "a successful continuation of Meridian Group’s development and a further expansion of it’s leading market position in the premium segment in Germany".

Glenn Earlam, chief executive of DLL, said: “The Meridian Group is a strong and well-respected operator in the German health and fitness industry, and is a key strategic acquisition for David Lloyd Leisure.

"We have ambitious plans to further invest in and further develop the clubs, and look forward to meeting the Meridian members and team, and sharing our vision for the future.

"There is a high demand for premium spa and fitness clubs in Germany and so it is an attractive market for us to expand into, as has been demonstrated by the success of our first club in Bad Homburg near Frankfurt. We continue to look for further opportunities to expand the David Lloyd Leisure concept across Germany.”

Leo Eckstein, Meridian Managing Partner/CEO added: "With AFINUM as an always responsive sparring partner with a great understanding for the needs of a medium-sized company, we have succeeded in gradually but persistently aligning our organization to new opportunities and challenges in the market.

"In combination with the positive effects of the successful expansion, we have significantly increased turnover, result and cash flow in recent years and hand over a very healthy and future-oriented company".

• For a full interview with Glenn Earlam, look out for the HCM March issue
PRODUCT NEWS
fibodo bolsters benefits and incentives offering with non-executive director appointment
fibodo, has appointed Brian Dunne as a non-executive director to its board, as it looks to increase distribution of its products within the benefits and incentives sectors.
ZIVA & Physical Company: A new partnership to meet all needs
Physical Company and ZIVA have announced a new distribution partnership that will see Physical Company become the exclusive UK distributor of ZIVA's commercial products.
FORA works with Power Plate to raise awareness of sitting disease through movement and vibration
With office workers spending over eight hours per day sitting at their desks, and one in six affected by mental health issues every year, it is no surprise that businesses are looking to introduce ‘wellness’ to the workplace
Training provider explains how a partnership with Fisikal transformed their business
Drummond Health & Fitness Education Academy has been providing quality health and fitness training and education for more than 35 years.
Iyashi Dôme: the original Japanese sauna
In 2004, Shogoro Uemura, CEO of Iyashi Dôme, was inspired by his father’s work to create a new treatment protocol based on the Japanese tradition of sand bathing.
Speedflex enters new partnership with Gateshead Council
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Life Fitness launches on-demand workout library for cardio equipment
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Neil Jordan, company founder and chairman, built Jordan Fitness based on a key principle; that cus [more...]
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+ More catalogues  

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The Best Product for the Best Clubs Find out more...
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DIARY

 

24 Feb 2020

Global Beauty & Wellness Exchange

Montage Palmetto Bluff, Bluffton, United States
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ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2020

ABOUT LEISURE MEDIA
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