Bankrupt Blink Fitness Sells Assets to PureGym for $105m in Cash

PureGym, whose investors include Leonard Green & Partners and KKR, to buy Blink Fitness’ corporate operations and a substantial portion of its locations, with a focus on New York and New Jersey, for $105m in cash.

• Deal gives PureGym ‘stalking horse’ status ahead of an auction on Oct. 28 if competing bids are received
• Blink’s Texas, Illinois and California locations are not included in the agreement
• PureGym also intends to assume certain liabilities
• Moelis & Company served as Blink’s financial adviser
• NOTE: Equinox-Owned Blink Fitness Files for Chapter 11 Bankruptcy

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