A NORTH west health and fitness chain has been sold for '80m.

Private equity group Legal & General Ventures has taken an 80 per cent stake in Total Fitness, which is based at Handforth, near Wilmslow.

Managing director Robin Johnson and finance chief John Peers have acquired the other 20 per cent.

Total Fitness, which operates 21 centres, was owned by Albert Gubay, the Isle of Man tycoon who founded the Kwik Save supermarket group.

LGV is no stranger to investment in the north west - it previously took a stake in Warrington-based parcels delivery business Target Express.

And the leisure sector is its core investment arena. It recently bought golf clubs operator Clubhaus, and has stakes in Vue cinemas and Moliflor casinos.

Its past investments have included the Unique Pub Group and caravan parks operator Bourne Leisure.

LGV began talks with Mr Gubay at the end of 2003.

Chief executive Adrian Johnson said: "Total Fitness has a very strong management team and it is a business which has clear opportunities for growth."

And LGV managing director Ivan Heywood, who has joined the Total Fitness board along with fellow director Michael Mowlem, said: "We are delighted to be backing Total Fitness's management through the next stage of its development. We are keen to continue the successful roll-out of its facilities."

Total Fitness

The first Total Fitness centre opened on the Isle of Man in 1993 and the first on the UK mainland was launchedin Walkden in 1998. Its most recent developments include Altrincham and Whitefield.

The group now has more than 150,000 members nationwide. Turnover last year was around '30m.

Its centres typically feature a large gymnasium, exercise studios, running tracks, swimming pools and spa facilities.

At the flagship Handforth complex, there are also squash and tennis courts, hydrotherapy and rehabilitation amenities and a human lifestyle centre where sports enthusiasts can obtain advice and health checks.

Mr Johnson said: "We are very pleased to welcome LGV as new shareholders. We are confident the business will continue to thrive under its new ownership."

A team of lawyers at DLA in Manchester, led by James Kerrigan and Michael Harkcom, advised the management duo.

Mr Gubay was advised by Martin Caller, Paul Basger and William Pinnock, of Wacks Caller Solicitors. Tweet