NovoFit is an exciting and dynamic new company born from two of Australia’s leading commercial fitness equipment suppliers. NovoFit combines over 45 years of industry expertise, delivering state…read more
Viva Leisure lodges prospectus and application for ASX listing
Leading fitness club and aquatic centre operator Viva Leisure Limited is moving forward with plans to become the only facility group currently listed on the Australian Securities Exchange (ASX) after submitting its prospectus and listing application for an Initial Public Offering (IPO).
Viva Leisure’s vision is to become the number one health, fitness and aquatic centre operator in the market through expanding its geographical reach via organic growth and considered acquisitions, continuing to invest in its unique business model and increasing its product and service offerings to members, who are core to its business.
The purpose of the IPO is to provide Viva Leisure with access to capital markets and added financial flexibility to pursue further growth opportunities and create a liquid market for its shares.
Viva Leisure will raise $20 million of new money as part of its IPO with the proceeds to be used to support the Viva Leisure business model, fund expansion opportunities, provide working capital and pay the costs of the offer.
In particular, part of the offer proceeds will be used to fund the acquisition of Fitness 24/7, a regional business with two health clubs in Albury, NSW and one health club in Wodonga, Victoria. This acquisition will bring Viva Leisure’s total operating locations to 33 with a further 15 greenfield locations in various stages of opening. Viva Leisure expects to have 48 operational locations within the next 12 to 15 months.
Commenting on the move, Harry Konstantinou, Viva Leisure’s founder, Chief Executive and Managing Director, explained “(this) marks a significant milestone for Viva Leisure and the health and leisure industry in Australia. My board and I are delighted with the strong level of investor interest and support for our IPO.
“Being the only health club group listed on the ASX would be a significant opportunity to introduce the industry to new investors. Viva Leisure operates a successful, innovative, leading technology based disruptive health club business driven by an experienced management team and board of directors.”
Viva Leisure was the first health club operator in Australia to offer clubs in all four segments within the health and fitness industry, including 24/7 ‘express’ sized clubs, boutique clubs, regular sized clubs and ‘big box’ clubs. By delivering across all four segments of the market, Viva Leisure’s brands are well positioned to meet the diversity of interests within local communities, providing the best possible format across a range of clubs and equipment.
First commencing operations in the ACT in 2004, Viva Leisure currently has over 47,500 members at facilities across the ACT and in regional NSW including Goulburn, Wollongong and Wagga Wagga.
Once listed, Viva Leisure is expected to have a market capitalisation of $52.6 million and expects to generate $46.8 million of revenue for the 2020 financial year and $11.4 million of earnings before interest, tax depreciation and amortisation.
Viva Leisure’s key benefits include:
• Leading candidate to exploit the unconstrained enterprise growth opportunity in the industry;
• Scalable and bespoke business model (not a ‘one size fits all’ business) with strong branding;
• Technology focused business which provides it with a competitive advantage and enhances barriers to entry; and
• Strong cash flows from membership-based revenue model.
Full details of the offer and Viva Leisure’s business will be included in the Prospectus which has been lodged with the Australian Securities and Investments Commission (ASIC) and the ASX.
For more information go to www.vivaleisure.com.au
Images: Harry Konstantinou (top) and Viva Leisure's new Club Lime facility in the ACT suburb of Tuggeranong (below).
20th March 2019 - Club Lime announces acquisition of Goulburn health club Absolute Fitness
23rd January 2019 - Viva Leisure looks to continue fitness club expansion through 2019
29th October 2018 - VIVA Leisure delays IPO plans
21st September 2018 - VIVA Leisure group acquires Wagga Wagga’s Xceler8 24hr Fitness
5th September 2018 - Viva Leisure acquires South Canberra’s Elite Physique fitness club
7th August 2018 - Club Lime opens latest ACT club
4th May 2018 - Club Lime opens 20th fitness club
12th March 2018 - Club Lime to open four new facilities in 2018
16th January 2016 - Club Lime opens new facility in Braddon
Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?
The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.
However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.
Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.
Subscriptions cost just $90 a year.
Click here to subscribe.
The Complete Guide to Leisure Industry Products & Services.
Principal Consultant Simon Weatherill has spent the last 20 years developing the world renowned Melbourne Sports Hub, as former Chief Executive Officer of the State Sports Centres Trust…read more
SeatGeek is a search engine and mobile-focused ticket marketplace that allows fans to buy and sell tickets for live events. As of August 2018, SeatGeek has exited the Australian, New…read more
PulseTec Solutions is a leading provider of software systems and solutions to the health and fitness industry for more than a decade. Our key products and services include ClientConnect studio and…read more
Ecoline is a highly experienced and skilled company that offers world-first technology in safety, protects the environment and provides a unique and challenging custom-made adventure and educational…read more
TJS Services is a leading national facility services provider. We deliver quality cleaning, maintenance, construction and facility management services to over 1,500 sites Australia wide. Our…read more
AIS Water, the trading name of Australian Innovative Systems, is a multi-award winning, Australian owned leader in the design, production and supply of commercial and residential chlorine generators…read more
SKC Operations Pty Ltd (SKCorp) is an expert retail and marketing services team specialising in sports, leisure, aquatics, fitness, health, wellness & recreation industry. Using proven…read more
get listed with our suppliers directory
Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!