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David Lloyd Leisure
One of Europe’s largest operators of premium racquets, health and wellness clubs
One of Europe’s largest operators of premium racquets, health and wellness clubs
David Lloyd Leisure is one of Europe’s largest operators of premium racquets, health and wellness clubs, with around 140 sites across the UK and Continental Europe. The group serves over 800,000 members and employs over 11,000 staff. David Lloyd offers a unique, family-oriented premium fitness and wellness experience, providing extensive facilities including indoor and outdoor swimming pools, racquets courts, spa retreats and exercise classes, typically operating from large, suburban locations.
Initial investment
2013
Sector
Leisure
Initial transaction size
£730m
TDR had followed David Lloyd closely since the early 2000’s, recognising it as a unique and high-quality leisure concept with a premium property-backed estate.
However, the company had been held back by a number of years of under-investment and we felt that there was a clear opportunity to drive growth through investing into the clubs and reinvigorate operations under a strengthened management team.
We saw the potential to enhance the member experience, reduce attrition and drive growth both organically and through expansion, underpinned by David Lloyd’s premium positioning and brand strength.
Upon acquisition, we launched a major capital investment programme, refurbishing over 80 clubs and significantly enhancing facilities which improved member retention and drove new member sales.
We strengthened leadership with a new CEO and COO who transformed the culture of the company, improving employee satisfaction. They drove an operational excellence programme to improve the member experience and club product offerings.
We then set about a further premiumisation of the club offering, investing additional capital into spa retreats and new exercise offerings such as Padel and Pilates.
David Lloyd’s growth has been further accelerated through targeted acquisitions and developments, expanding its footprint across Continental Europe, alongside continued expansion in the UK.