National fitness franchise Energie plans to raise £4.5m through AIM float

Fitness club franchise's flotation to be facilitated by reverse takeover

Energie, a nationwide fitness club franchise, has announced plans to float on the Alternative Investment Market (AIM) as it seeks to raise £4.5m in pursuit of an ambitious growth strategy.

The move to AIM will be channelled through a reverse takeover, which will see the PLUS-quoted investment firm HubCo acquire Energie’s entire share capital. Once the acquisition is complete, HubCo will transfer its ordinary shares to AIM, taking Energie with it. Energie is expected to command an initial AIM valuation of £10m.

Jan Spattichia, founder of Energie, will retain active control as chief executive following the acquisition, while Paul Campbell, former chair of restaurant firm Clapham House, will join as chairman. Since its inception in 2004, Energie has grown to encompass 98 franchised fitness clubs around the UK, with a total of 73,000 members. Its holding company, Blusky Investments, record revenue of £3.9m and profits of £1m in the financial year to September 2011.

Spattichia and his team plans to use the proceeds from the AIM flotation to open up to 80 wholly owned outlets over the next five years.

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