Lawrence Gaston-Chaney, Director, Debt Finance, Barclays:
Debt finances role at Barclays is to put together tailored solutions to help our clients meet their strategic objectives.
We've worked with Pure Gym since 2010. During that time we've supported the group with growth financing and acquisition financing. Taking them from a small disrupter in the sector to being one of the largest UK gym operators. From six sites to over 200 sites today.
As Pure Gym has grown so has our financing support for them and at times we've partnered with alternate providers of capital to create a financing package that's truly fit for purpose.
Where we've really enjoyed working with Pure Gym is being side by side with them along that journey. Knowing their business model, knowing what their strategic objectives are and partnering with them to ensure we've got the right financing in place to back them every step.
Alex Wood, Chief Financial Officer, Pure Gym:
I’d describe that relationship with Barclays as incredibly supportive and collaborative. One of the key benefits as Barclays as a bank, it has a full service offering, and you always feel like you’re getting through to the experts when you need them.
When Pure Gym was acquired by Leonard Green & Partners in 2017 we introduced our investment bank colleagues who were able to underwrite 360 million high yield bond and 60 million super senior RCF to find the leverage buy out.
As Pure Gym moves internationally, Barclays are uniquely positioned to support them. We have a global footprint, we have access to private and capital markets, and we can work with them to put together the right financing package wherever it takes them.
In summary we've been able to provide growth and acquisition financing for a range of public and private markets to ensure we're supporting Pure Gym every step of the way and that's what we as Barclays can do.