Members and staff connected to Esporta will be pleased to read that Société Générale (Soc Gen) has now acquired the premium health and racquets brand. Esporta’s 55 clubs now become a wholly owned Société Générale subsidiary company. The sale comes just before the August 2009 expiry of the administration order of Bell Leisure (Esporta’s previous holding company). Readers may recall that it was Soc’ Gen’ who provided more than £300 million in bank finance for Simon Halabi’s company to acquire Esporta back in 2007.
The acquisition also means that Glenn Timms, Esporta CEO has left the business with immediate effect. Timms joined the company in June 2007, replacing Neil Gillis. It is too soon to say who will replace Timms, so for now we can assume that Richard Segal, the recently appointed Chairman is running the show.
Attached image is Richard Segal, new Esporta Chairman.