David Lloyd Leisure

Revitalising market-leading brands
Leading operator of premium racquets, health and fitness clubs in a unique family-oriented setting

David Lloyd Leisure is Europe’s largest operator of premium racquets, health and fitness clubs. It operates over 130 sites across the UK and Continental Europe, with c. 750,000 members and employing over 8,500 staff.

David Lloyd provides a unique family-oriented premium offering, generally operating from large edge-of-town sites. The group offers unrivalled health, sport and leisure facilities, including indoor and outdoor swimming pools, indoor and outdoor tennis courts, squash and badminton courts, exercise and wellbeing classes as well as spa facilities.

  • At a glance
  • Status: Partially Realised
  • Deal Type: Limited Process
  • Sector: Leisure
  • Initial Investment Date: November 2013
  • Website: www.davidlloyd.co.uk


We had followed David Lloyd for many years, believing it to be a unique leisure concept and a premium property-backed asset.

We saw it had strong potential to grow by investing capital across the existing estate, expanding into new geographies and significantly enhancing DLL’s customer proposition through a series of operational improvement initiatives. In November 2013 we acquired DLL from UK-based property company London & Regional and Caird Capital LLP.

Since TDR’s investment

  • We undertook a major capital investment programme, making significant improvements in the style and range of facilities available to members across the estate
  • We have worked with management to improve all aspects of the member experience in order to cement DLL’s position as a market leader in premium family leisure
  • We have relaunched David Lloyd’s new site development programme in the UK and built out its position in Continental Europe through the acquisition of small portfolios of clubs as well as standalone sites, bringing the total estate to 133 sites as at December 2023 compared to 90 at acquisition
Sites across UK and Continental Europe
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