DWF advises on Total Fitness MBO

National legal business DWF has advised RooGreen Ventures in connection with the management buyout of UK gym and health club Total Fitness.

The deal is backed by private equity firm NorthEdge Capital and RooGreen Ventures, who will reinvest in the business as part of the buyout, funding the continued refurbishment of the club estate and the funding of new business opportunities.

The DWF team, led by Jonathan Robinson and Vicky Ross advised Brian Davidson and Warwick Ley of RooGreen Ventures on the deal, which concludes a highly successful turnaround of the health club. Davidson and Ley joined the Total Fitness Board in December 2012, and, working with Chief Executive of Total Fitness, Richard Millman, a 14% increase in the club’s membership base has been delivered with the business brought back into profit. The club currently operates 17 fitness and leisure clubs across the North of England, with over 87,000 members and 550 employees.

Jonathan Robinson, a partner in DWF’s corporate and banking team, commented: “The Total Fitness brand is one of the leading health clubs in the North of England, and the business has achieved remarkable growth over the last two years. We were pleased to have advised RooGreen on this next phase, which is going to be a great opportunity to drive further profitability, increase membership and invest further in the club’s future.”

Warwick Ley, non-executive chairman of Total Fitness commented “The results of the last 2 plus years at Total Fitness typify the tremendous achievement by each and everyone involved against what was a highly challenging backdrop. The team has defied many people’s expectations and they should be very proud of the formal endorsement of their achievements and future plans by NorthEdge. We are delighted to have worked with the DWF team once again and would like to thank them for their help on the transaction”

Deloitte (Andy Westbrook) provided corporate finance advice to NorthEdge Capital, while KPMG completed financial and tax due diligence (John Moth and Steve Heath). GunnerCooke provided legal advice to NorthEdge (Tim Hamilton and Nick Ducker), while DWF (Jonathan Robinson and Vicky Ross) advised RooGreen Ventures and management. DLA (Tim Lake) advised the vendors.

Jonathan Robinson

Partner - Head of Private Equity

I am a Partner and head of the firm’s Private Equity team.