Fitness First has instructed Investec and Dresdner Kleinwort Wasserstein to begin a formal offer evaluation process after receiving preliminary expressions of interest from private equity houses, making it the third UK sports club group to become a takeover target this year.

Earlier in 2002, Esporta was the subject of a hostile bid from Duke Street Capital. Holmes Place went into play this summer after Bridgepoint put in an indicative offer and the equity finance business of Royal Bank of Scotland backed a bid by Cannons Group that was withdrawn after a fall in Holmes Place's profits.