OneLife Fitness working with Jefferies to explore sale, Reuters reports

OneLife Fitness is exploring a sale that could value it at around $700M, including debt, three people familiar with the matter told Reuters’ Abigail Summerville. The U.S. operator of health and fitness clubs, which is majority-owned by the family office that invests private equity investor Josh Harris’ wealth and private equity firm Delos Capital, is working with investment banks Jefferies Financial (JEF) and North Point Advisors on a sale process that is in its early stages, the sources said. Private equity firms have shown an affinity to the cash flows generated by gym memberships as Roark Capital acquired Fitness Connection in 2019, TPG Growth (TPG) acquired Crunch Fitness and TSG Consumer Partners acquired Core Power Yoga in the same year. Last year, F45 Training (FXLV) received a buyout offer from Kennedy Lewis Investment Management that it ultimately rejected, the report noted.