One of the nation’s largest health club operators has put itself on the market, although its chief executive said the move may not result in a sale.
Greenwood Village-based Wellbridge Co., which operates five Colorado Athletic Club locations, is conducting a market test to determine interest in the company, chief executive Ed Williams said Monday.
“We are looking at potential sales to see if we can get the price everybody is looking for,” Williams said. “We are seeing what people will pay.”
Wellbridge is owned by private equity firms Starwood Capital Group of Greenwich, Conn., and Chilmark Partners of Chicago. The company also operates clubs in Florida, Georgia, Hawaii, Maryland, Massachusetts, Minnesota, Missouri, New Mexico, New York and Texas.
The company owns many of its clubs but has management deals for other locations.
Williams said the company has conducted similar market tests. The most recent one was 2 1/2 years ago and did not result in a sale.
Starwood and Chilmark acquired Wellbridge in 1997. According to its website, Starwood said Wellbridge would “be sold when deemed appropriate.”
Wellbridge employs 5,000 people, according to its website.
Staff writer Kristi Arellano can be reached at 303-820-1902 or karellano@denverpost.com.
