NORTH-west bosses Paul Bird and Steve Turnock were in good shape today after selling their chain of health clubs in an £8.4m deal.

The pair set up Trainstation three years ago after being made redundant from their previous jobs when Greenalls took over Village Leisure Hotels. They had been managing director and finance director respectively.

It has clubs in Sale, Chester and Southport and nearly 9,000 members.

Hertfordshire-based Crown Sports, which owns 33 health clubs and eight golf clubs around the country, paid £6.2m for Trainstation and assumed its debts of £2.2m.

Trainstation is 45 per cent owned by the 3i venture capital group. The directors own the rest.

Today’s deal involves a cash payment of just over £5m, with the rest in Crown Sports shares.

Trainstation turned over £3.2m last year and made an operating profit of £242,000. Profits are forecast to top £1m this year.

Rebranding

Its sites will be absorbed into Crown Sports and rebranded as Dragons Clubs. A number of Jobs will go at Trainstation’s head office.

Crown Sports’ chief executive Steve Philpott said: ‘‘Trainstation is a well-run business, whose acquisition will be earnings enhancing for our share- holders.

‘‘Its standard of facilities and offering to members fit well with those provided at our Dragons clubs.’’

Mr Bird said: ‘‘Having built our operations up to three clubs and 8,800 members, we are pleased to have the opportunity to consolidate our business into Crown Sports.’’

Will Clark, of 3i, said: ‘‘We have enjoyed a longstanding relationship with Trainstation, from company inception through to a successful sale, providing further funding to support their expansion along the way.

‘‘Paul and Steve had a clear vision for delivering shareholder value in a relatively new market with high growth potential.

‘‘We, along with management, recognise the benefits to be gained by the company becoming part of a larger group.’’