Health and fitness franchise company Energie Fitness has made a bid – believed to be in the region of £100-£120m – for health club chain Bannatyne Fitness.

Energie has confirmed that the bid is at the upper end of the range, which it considers to be a fair bid reflecting the value of the business, and said that dialogue with Bannatyne is continuing.

A spokeperson for Bannatyne declined to comment on the bid, but said that a float of the entire Bannatyne Leisure company could also be a possibility in the future.

Photograph: Jan Spaticchia, chief executive of Energie Fitness