Duke Street Capital (DSC), the independent private equity fund manager, has today (16 November) announced that it has sold racquets and country club company Esporta to the Halabi family trust for an undisclosed sum.

The sale comes as a result of a formal auction process launched in mid-September in response to unsolicited offers for the business received over the summer.

Peter Taylor, managing partner, DSC, said: “The interest shown in Esporta during the auction process indicates not only the quality of the business but also the energy and skills of its people.

“Under Neil Gillis’ leadership, they have done an outstanding job to outperform Esporta’s key competitors.”

Gillis, CEO of Esporta, added: “We are very excited about Esporta’s future. With Duke Street Capital’s support we have turned the business into one of the leading premium health clubs in the sector.

“Esporta has a solid platform for further growth, and with the backing of the Halabi family trust is in a great position to realise its full potential.”

The Halabi family – owner of the 23-storey Aviva Tower in the City and Mentmore Towers in Buckinghamshire and stakeholders in the proposed Shard of Glass tower to be built at London Bridge – was advised by Buckingham Securities Holdings plc.

Esporta is estimated to be worth around £460m.

Early bids for the chain were reported to have come from Whitbread; Next Generation’s owner London & Regional; Dubai government-owned Istithmar; Archie Norman’s private equity vehicle Aurigo Management; and private equity groups Cinven and Warburg Pincus.