Canada Square... gets in shape

RSM provided due diligence on Canada Square Health & Fitness Holdings Limited’s acquisition of Tower Bridge Health Clubs Ltd from Albion Ventures LLP.

The client

Canada Square Health and Fitness Holdings Limited, (trading as Reebok Sports Club London) operates a sports club in Canary Wharf. It is one of Europe’s largest health clubs occupying 100,000 sq ft. It offers a wide range of fitness services, as well as a number of treatments and therapies. It is owned by investment firm Encore Capital.

Tower Bridge Health Clubs Limited operates 37Degrees Health and Fitness, a health club in the More London Estate in London. As well as a spacious gym area fitted with the latest gym equipment, their facilities include a pool, sauna and steam room as well as a number of spa treatments.

The acquisition is part of Encore’s plan to expand upon its successful investment in The Reebok Club in Canary Wharf and closely follows their acquisition of The Third Space, another luxury health and fitness group, from Graphite Capital. RSM also advised on this transaction.

What RSM did

RSM provided due diligence on Canada Square Health & Fitness Holdings Limited’s acquisition of Tower Bridge Health Clubs Ltd from Albion Ventures LLP.

Testimonial

'The acquisition of 37 Degrees fits our strategy well. Our aim is to be the leading luxury health club operator in iconic London locations. RSM's hands on work and excellent advice were very important in helping us deliver this strategically important deal.'

Ed Shah, Encore Capital

Transaction team

Nick Williams, Partner, T: +44 (0)7703 496 222

Peter Vandervelde, Partner, T: +44 (0)7801 607 305

Philip Rossiter, Associate Director, T: +44 (0)7769 973 160