NRG Gyms lands £19 million from HSBC UK to reach 20 sites
What's the deal? NRG GymsDealroom has a profile for this one. Try Dealroom → has secured an £18.7m debt package from HSBC UKDealroom has a profile for this one. Try Dealroom → to grow its estate from 13 to 20 sites over the next two years. The deal includes a £10m revolving credit facility to fund the fit-out of new locations.
What's the endgame? The funding backs seven new gyms, with confirmed openings in Leicester and Nottingham and five further sites yet to be announced. NRG operates large-format health clubs offering gym equipment, group exercise, and female-only training areas.
Where's it expanding? The operator is pushing into more towns and cities across the UK, and expects the programme to create over 70 jobs and lift turnover by more than 60% over two years. It also plans to invest in member-facing technology and data-led site selection.
Why now? The deal builds on a decade-long relationship with HSBC UK, which last year backed NRG's acquisition of Pump Gyms LimitedDealroom has a profile for this one. Try Dealroom →. Founder and CEO Shafiq Ahmed said the bank's continued support "has been instrumental in helping us scale."
Ahmed added that the company is "excited to explore further acquisition opportunities to accelerate our growth."
The signal: "More people are looking for affordable, flexible ways to stay active," said George Raven, relationship director at HSBC UK. NRG's debt-fuelled expansion reflects a bet that value gym demand keeps rising as the operator moves into new UK markets.
Read more: paf-media.co.uk
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