The Gym Group £68.5 million Sale of Shares, UK

17 March 2017

To find out more, Contact STJ Advisors

STJ Advisors acted as independent advisor to Phoenix and Bridges on the sale of their remaining 30.5% shareholding in the Gym Group, the leading provider of high-quality low-cost gyms across the UK, raising £68.5 million. 

Although launched against a busy market, with 4 block trades on the evening of the offering, it priced successfully at 175p per share, representing a 5.4% discount to the previous close. The offer size was considerably higher than the market average, representing 160 days of trading volume. The offering was completed on the back of Gym Group’s positive full year results without wall-crossing.

STJ has advised Phoenix and Bridges both during the IPO and subsequently, concluding with this second of two sell-downs to realise their remaining shareholding. This is STJ’s 16th transaction in the leisure and retail sector in recent years and 4th UK block trade in 2017.

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