Reflex Group yesterday said it would spend £6.6 million sterling (€10.64 million) acquiring a British health club business, Fitness & Leisure Group, ahead of a listing on London's AIM exchange. The Dublin-based company also said it had reached agreement to sell its subsidiary, First Rental Ltd, to a management buy-out team.

When both deals are finalised, Reflex will seek to cancel its listings on the Irish and London exchange and relist on the AIM.