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Encore acquires premium health club operator 37 Degrees
November 7, 2014
Encore Capital, the London based investment firm focused on backing entrepreneurial growth businesses, today announced its acquisition of the 37 degrees health and fitness club from Albion Ventures LLP. 37 Degrees is a premium health club located within the prestigious More London estate near Tower Bridge, overlooking the River Thames. It has a 20 metre swimming pool, sauna, steam room, several studios, a spa and a state-of-the-art gym. The club has been operating successfully for a number of years and has in excess of 3,000 discerning customers.
Encore already owns the Reebok Sports Club in Canary Wharf, Europe’s largest luxury health club and recently acquired The Third Space with clubs in Soho and Marylebone. This acquisition further supports Encore’s ambitious growth plans within the broader healthy lifestyle segment.
Shirin Gandhi, Partner at Encore commented: “The acquisition of 37 degrees fits our strategy well. Our aim is to be the leading luxury health club operator in iconic London locations. Our clubs work best where we can leverage a large captive office/residential community and where the estate's owners recognise the benefits a luxury health and wellbeing operation brings to their customers. We aim to invest heavily in upgrading the already high quality facilities within this club which, together with the redevelopment of London Bridge Station will add to the attractiveness of this location. These are exciting times for our group, we are committed to expanding our portfolio of luxury clubs and hope to announce further developments in the months to come”
About 37 degrees, Tower Bridge
37 degrees is a premium 28,000 sq. ft. club located on the River Thames within the prestigious More London Estate. The club serves tenants including Ernst & Young, Norton Rose Fulbright, PWC and Terra Firma Capital Partners. It encompasses a gym, swimming pool, studios, spa, medical centre and associated retail operations. The club has over 3,000 members.