Alison BloomerPrivate equity firm Leonard Green and Partners is set to acquire a controlling stake in British gym operator Pure Gym after an initial public offering of the group was abandoned last year.
Leonard Green and Partners will buy the stake from the company's major shareholder CCMP Capital Advisors, the firms said in a statement on Friday.
They did not disclose the agreed price but the business is valued at £600m.
An initial public offering of the group, which has 950,000 members spread across 189 sites, was abandoned in October 2016.