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Encore acquires premium health club operator Third Space
October 27, 2014
Encore Capital, the London based investment firm focused on backing entrepreneurial growth businesses, today announced its acquisition of The Third Space, an operator of luxury health and fitness clubs from Graphite Capital.
The Third Space comprises an iconic group of clubs, bringing together a best in breed team of experts and facilities in delivering an unparalleled member experience across its two sites; one in the heart of the trendy Soho area of London and the second within the upmarket Marylebone area of London. The clubs have in excess of 5,000 discerning customers.
Encore already owns the Reebok Sports Club in London, Europe’s largest luxury health club, occupying 100,000 sq. ft. in the heart of Canary Wharf. This acquisition supports Encore’s ambitious growth agenda; to own and operate iconic premium health clubs in key locations across the capital.
Shirin Gandhi, Partner at Encore commented: “As part of our strategy to establish a London centric leading luxury health club group, we are thrilled to have acquired The Third Space - a fantastic brand with clubs in highly desirable locations. This acquisition allows us to augment a growing proposition we are extremely proud of – offering our members a holistic, tailor-made approach to health and well-being, using state-of-the-art training facilities and utilising the latest trends and techniques, all delivered in luxurious surroundings.”
About Third Space
The Third Space is a cutting edge, iconic group of clubs and was one of the first brands to acknowledge that true health is an integrated affair – bringing together the best experts and facilities to cater for all requirements in exercise, health, medicine, nutrition, and fun. Its first site, opened in 2001, comprising of a 40,000 sq. ft. facility located in the heart of the trendy Soho area of London.
It encompasses a ‘state of the art' gym, medical centre and associated retail operations. In 2011 a second site was launched comprising 15,000 sq. ft. in the upmarket Marylebone area of London. Today, the clubs have over 5,000 members.