Duke Street Capital has reached agreement with Invicta Leisure, the fitness clubs operator owned by RIT Capital Partners, Electra Partners and management, to acquire the company in a GBP140 million secondary management buyout. The acquisition is to be made in the name of Esporta Group, the new entity created as a result of this summer’s take private of Esporta plc by Duke Street, in a deal that valued the company’s shares at GBP145.4 million.

Royal Bank of Scotland, which has been mandated to arrange the debt financing to back the Esporta buyout, is also rumoured to be arranging the debt financing for the Invicta deal. The syndication strategy for the financings is expected to finalise by the end of September.