Deal Snapshot
EQUITY FIRMS TO BUY LIFE TIME FITNESS IN USD 4BN DEAL
Monday 16 March 2015

US-based fitness spa and health programme organiser Life Time Fitness, Inc. (NYSE: LTM) along with private equity firms Leonard Green and Partners and TPG have entered into a definitive merger agreement under which affiliates of Leonard Green and Partners and TPG will acquire Life Time in a transaction valued at more than USD 4.0bn, the company said on Monday. Other key investors include private equity firm LNK Partners and Life Time chairman, president and chief executive officer, Bahram Akradi, who will remain in his role and has committed to make a rollover investment of USD 125m in Life Time common stock. Under the terms of the merger agreement the investors will acquire all of the outstanding shares of Life Time Fitness common stock for USD 72.10 per share in cash.


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Details
Date Published: 16/03/2015
Target: Life Time Fitness, Inc
Country: USA
Deal Size: 4bn (USD)
Sector: Business and Consumer Services
Type: LBO
Financing: Cash and Stock
Status: Agreed
Vendor:
Buyer: Leonard Green and Partners , TPG Affiliates, LNK, Life Time Chairman
Buyer Advisor: Latham and Watkins LLP , Leonard Green and Partners , Ropes and Gray LLP
Comment:


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