Gym operator adds five sites with acquisition
Gym operator NRG Gyms has grown its estate from seven to 12 sites after acquiring Pump Gyms for an undisclosed sum.
The acquisition sees NRG Gyms – which earlier this year secured £4m of new funding – take on new locations in Northampton, Norwich, Bedford, Colchester, and Hatfield.
NRG Gyms currently operates in Gravesend, Lewisham, Manchester, Newcastle, Sheffield, Walsall, and Watford.
Shafiq Ahmed, founder of NRG Gyms, said: “This deal almost doubles the number of members in our tribe – strengthening our footprint across the UK and establishing NRG Gyms as one of the leading high-value, low-price gyms in the country.
“As we integrate Pump Gyms into the NRG family, I’m excited to deliver on our investment plans and bring our vision of best-in-class, inclusive gyms to even more communities – focused on community, aspiration and performance, and ensuring the best possible experience for every member of our tribe.
“Since opening our first gym in Gravesend in 2012, I couldn’t be prouder of what we’ve achieved. Anyone working in the sector knows the challenges of building a gym business, but we’ve stayed true to our values, been principled in our decision-making, resilient when needed and agile, to evolve and adapt to retain our relevance and consistently grow our membership. As we move forward, we remain open to continuing to grow the business by acquisition.”
In January, NRG Gyms received a £4m cash injection from Puma Growth Partners to support the expansion of its portfolio of gyms across the UK.