One of the UK’s biggest social enterprises is merging with a smaller organisation in a deal that will see it operate more than 90 leisure centres in south east England and take its turnover to almost £90m.
GLL (Greenwhich Leisure Ltd) is merging with Nexus Community, a social enterprise that manages leisure facilities and services in Oxfordshire and Buckinghamshire and is the trading subsidiary of Wycombe Leisure Limited.
GLL has a turnover of more than £75m and operates 70 leisure centresand Nexus’ turnover is around £14m. The merger is still undergoing final negotiations.
GLL’s managing director, Mark Sesnan, said: ‘This merger offers a fantastic opportunity for both GLL and Nexus to take our businesses forward, share resources and build on our strengths. Having worked in partnership for a number of years, the similarities between the two organisations have become evident and the advantages of working together obvious.’
Nexus, which currently runs 23 leisure centres, will become a trading division of GLL, primarily serving the Thames corridor, and will continue to operate under its own brand and out of its own head office.
Jobs at both organisations remain secure.
The deal aims to increase investment into capital projects, business expansion and greater training and career opportunities for employees as well as having benefits for their local authority partners and customers.
GLL and Nexus have worked in partnership since 1996, most recently in the south Oxfordshire area where GLL has sub-contracted the management of seven South Oxfordshire District Council leisure facilities to Nexus.
Rick Durrant, managing director of Nexus, said: ‘We are pleased to be able to further strengthen and formalise the positive and long-standing relationship we have enjoyed with GLL since our inception. The advantages of the merger will bring significant opportunities for our loyal staff and our local authority partners.’
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