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October 03, 2005
An IPO for New York Sports Clubs
Town Sports International, the holding company for New York Sports Clubs, is ready to proceed with a $172.5 million IPO, according to the New York Post. The health & fitness company is owned by a private equity firm, which has been negotiating with other private equity firms over the past few months about a potential sale. However, all of these bids were eventually rejected in favor of an IPO, which would bring a higher valuation for the company. Town Sports International, which has 140 clubs and 400,000 members, is currently valued at between $600 million and $700 million.
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