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Quadrant Private Equity To Purchase Goodlife Health Clubs?

Ardent Leisure is one of Australia’s most successful leisure and entertainment groups. In Australia, they own and operate premium leisure assets including Dreamworld, WhiteWater World and SkyPoint theme parks and attractions, AMF and Kingpin Bowling, d’Albora Marinas, HYPOXI and Goodlife Health Clubs, as well as Main Event, which is a growing portfolio of family entertainment assets in the United States.

Ardent Leisure’s shares were recently placed in a trading halt and the Australian Financial Review has reported that industry sources revealed Quadrant Private Equity is considering the acquisition of Goodlife, as part of its exploration into Ardent Leisure’s assets.

Goodlife has 76 gyms across Australia and more than 200,000 members. Sell-side analysts have estimated the health chain is expected to generate $30 million income in the 2017 financial year, with the chain’s total worth chain being estimated at around $200 million.

Quadrant is self-advised while Citigroup is advising Ardent Leisure. An announcement is expected later this week.

Source: The Financial Review

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