A BUPA-backed developer of products and services in the leisure and wellness sectors has bought a software company.

A BUPA-backed developer of products and services in the leisure and wellness sectors has bought a software company.

ADDleisure Plc, an AIM-listed company that is led by LA Fitness founder David Turner and Holmes Place founder Allan Fisher, has added Clubrunner (Europe) to its portfolio following a cash-and-share deal.

The transaction was made through its booking software subsidiary, Digital Plantation, which paid £500,000 in cash on completion. Further payments of up to £916,000 could also be made, subject to performance.

The acquirer’s board also hopes the deal will attract new international corporate clients.

The vendors, which included founder Stefan Drummond, were led through the legal issues of the disposal by a team at stevensdrake, headed by associate Emma Ladd.

She said the firm has advised the vendors for several years. “The transaction had a fairly tight timetable and this was achieved by the willingness of all parties to work together.” n