NRG Gyms Secures £4 Million Investment from Puma VCTs
Deal News | Jan 16, 2025 | Puma Capital Group
NRG Gyms, an award-winning gym group in the UK founded by Shafiq Ahmed, has received a £4 million investment from Puma VCT 13 and Puma Alpha VCT, part of Puma Capital Group. The investment will be used to support NRG's expansion of its portfolio across the UK, enhancing the member experience with data and analytics, and developing a technology-led infrastructure to support rapid scaling. NRG has grown to seven gyms with over 30,000 members in cities like London, Manchester, Newcastle, and Sheffield, attributing success to best-in-class equipment and service at competitive prices. The UK fitness market is on track to reach a value of £2.8 billion by 2025, underscoring consumer dedication to health and fitness. Neil Greenhalgh, appointed as Non-Executive Director, will bring strategic experience from his time as CFO at JD Sports, enhancing NRG's management team as it pursues growth.
Sectors
- Fitness and Wellness
- Private Equity and Venture Capital
Geography
- United Kingdom – NRG Gyms operates across the UK, and the investment from Puma VCTs is aimed at expanding its presence within this geographical region.
Industry
- Fitness and Wellness – NRG Gyms operates within the fitness and wellness industry, providing health and fitness services.
- Private Equity and Venture Capital – Puma Capital Group's VCTs are part of the private equity and venture capital sector, providing investment to growing businesses like NRG Gyms.
Financials
- £4 million – Investment by Puma VCT 13 and Puma Alpha VCT into NRG Gyms.
- £2.8 billion – Projected valuation of the UK fitness market by 2025.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| NRG Gyms | Target | Company | A UK-based gym group that offers high-value, low-price fitness services. |
| Puma VCT 13 and Puma Alpha VCT | Bidding Company (Investor) | Company | Venture Capital Trusts managed by Puma Capital Group that invest in growing companies like NRG Gyms. |
| Puma Capital Group | Investor | Company | A private equity firm providing investment through its Venture Capital Trusts. |
| Shafiq Ahmed | Founder | Person | Founder of NRG Gyms. |
| Neil Greenhalgh | Non-Executive Director | Person | Recently appointed to the board of NRG Gyms; former CFO of JD Sports. |