Private equity group BC Partners has agreed to buy Fitness First from rival buyout firm Cinven in a deal that values one of the world’s largest gym chains at 835 million pounds, the companies said on Thursday.As part of the deal BC Partners is taking on about 400 million pounds of Fitness First debt, implying a purchase price of about 435 million pounds for the group which operates 424 clubs throughout the country with more than 1 million members.Cinven bought Fitness First two and a half years ago for about 404 million pounds, including about 200 million of debt.Other UK health club chains including Holmes Place, LA Fitness and Esporta have all put themselves up for sale during the past three years to fund expansion.

Posted: 09|23|05 at 8:40 am. Filed under: UK News.