Pinnacle US Holdings Wins Bidding for Blink Fitness Assets

Pinnacle US Holdings successfully bid for gym chain Blink Fitness’ assets for $121 million following an auction on Monday, according to a court filing late Wednesday.

The financial consideration of $121 million is subject to certain adjustments, plus assumption of certain liabilities, the filing added.

Pinnacle is a wholly-owned subsidiary of PureGym Ltd., whose investors include Leonard Green & Partners and KKR & Co., according to an earlier court document. Pinnacle signed a purchase agreement with Blink Fitness as a stalking horse bidder in September, the document shows.

The deal would allow UK-based PureGym to expand its ...