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Renewing market-leading brands

David Lloyd Clubs

For over 30 years the David Lloyd brand has been synonymous with health, sports and leisure, playing a significant role in increasing awareness of how important fitness is to our health and wellbeing.


David Lloyd Clubs (“DL”) is Europe’s largest operator of premium racquets, health and fitness clubs. It operates 94 sites across the UK and Europe, with over 480,000 members and employing over 6,000 staff.

DL provides a unique family-oriented premium offering and each week it helps 20,000 children to learn to swim and 15,000 children to play tennis. DL also offers unrivalled health, sport and leisure facilities, including 150 swimming pools, over 800 tennis courts and over 300 squash and badminton courts.


We had followed DL for many years, believing it to be a premium property-backed asset that, in our view, had potential to grow by investing capital across the existing estate, expanding into new geographies and significantly enhancing DL’s customer proposition through a series of operational improvement initiatives.

In November 2013 we acquired DL from UK-based property company London & Regional and Caird Capital LLP, the manager of Bank of Scotland’s legacy Integrated Finance portfolio.

What we've done

Following the acquisition of the business we undertook a major capital investment programme, making significant improvements in the style and range of facilities available to members across the estate. We have also worked with management to improve all aspects of the member experience in order to cement DL’s position as a market leader in premium family leisure.

We have relaunched David Lloyd’s new site development programme in the UK and continental Europe. In May 2017 we acquired 14 racquet clubs from Virgin Active  and have completed a major capital expenditure programme across the acquired estate.

Further information

Date of investment: November 2013
Deal type: Private sale
Status: Partially realised

For further information, email:  davidlloyd@tdrcapital.com
Visit the company’s website at:  davidlloyd.co.uk