NRG Gyms Secures £4 Million Investment for Expansion
Deal News | Mar 26, 2025 | Puma Investment Management Limited
In a move set to bolster its expansion, NRG Gyms received a £4 million investment from Puma VCT 13 and Puma Alpha VCT, reflecting the growing potential within the UK's fitness market. Founded by Shafiq Ahmed in 2013, NRG Gyms aims to offer affordable access to fitness with a keen focus on customer needs and community building. With over 35,000 members across major UK cities such as London and Manchester, the company plans to enhance its services and broaden its reach. The recent investment marks the second phase of growth for NRG, with plans to open ten additional gyms and pursue acquisition opportunities over the next three years. Shafiq Ahmed emphasizes a data-driven approach to meet member expectations, thereby retaining a competitive edge in a dynamic market. The strategic addition of Neil Greenhalgh, former CFO of JD Sports, to the board as a Non-Executive Director, underscores NRG Gym’s commitment to strengthening its leadership team. With support from Puma’s experienced investment professionals, NRG is poised to continue its expansion and adaptation to market demands.
Sectors
- Fitness and Health
- Private Equity
Geography
- United Kingdom – NRG Gyms operates across various cities in the UK, including London, Manchester, Newcastle, and Sheffield, and the investment is directed towards expanding its presence in these areas.
Industry
- Fitness and Health – The article primarily revolves around the growth and expansion strategies of a gym chain, focusing on the UK's rapidly growing fitness market.
- Private Equity – The involvement of Puma VCT 13 and Puma Alpha VCT highlights the role of private equity investments in scaling businesses within competitive markets.
Financials
- £4 million – Investment by Puma VCT 13 and Puma Alpha VCT to support the growth of NRG Gyms.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| NRG Gyms | Target Company | Company | A gym group founded by Shafiq Ahmed in 2013, aiming to provide affordable access to fitness across the UK. |
| Puma Investment Management Limited | PE Investor | Company | A private equity firm that has invested £4 million in NRG Gyms to support their growth and expansion. |
| Shafiq Ahmed | Founder & CEO of NRG Gyms | Person | The visionary behind NRG Gyms, focusing on democratising fitness access and community building. |
| Neil Greenhalgh | Non-Executive Director | Person | Former CFO of JD Sports, appointed to the NRG Gyms board to bring extensive retail experience. |
| Puma VCT 13 and Puma Alpha VCT | Investment Vehicles | Company | Funds managed by Puma Investment Management Limited, focused on venture capital trust investments. |
| Rupert West | Managing Director at Puma Investments | Person | Provides strategic advice and investment management to support NRG Gym's growth. |
| Kelvin Reader | Investment Director at Puma Investments | Person | Brings experience in scaling businesses, contributing to NRG Gym’s development plans. |