Charles Russell Speechlys advises long-standing client Puma Growth Partners on its £4 million investment into NRG
Charles Russell Speechlys has advised long-standing client Puma Growth Partners on its £4 million investment into NRG Gym (“NRG”), an award-winning, high-value, low-price gym group founded by Shafiq Ahmed.
The funds will support NRG in continuing to expand its portfolio of gyms across the UK and invest in the use of data and analytics to improve the member experience while creating a technology-led back-office infrastructure capable of allowing the business to scale at speed. Launched in 2013, the business has expanded over recent years to seven gyms and over 30,000 members across the UK in cities including London, Manchester, Newcastle, and Sheffield.
Puma Growth Partners offers growth capital and expertise to best-in-class, ambitious businesses across the UK, irrespective of sector, and works in partnership with management to help businesses scale and create long-term value. It aims to deliver insight, expertise and a fresh perspective to the portfolio companies it partners with. Having invested in, and worked with, a breadth of companies in a range of sectors from consumer e-commerce to fleet transport safety and influencer marketing, Puma Growth Partners has deep insights and experience in scaling businesses for growth and where desired, successful sale and exit.
Henri Songeur, Investment Manager at Puma Growth Partners, commented:
As always, it was a pleasure working with the team at Charles Russell Speechlys. Their understanding of our business and excellent service consistently ensures a seamless experience.
David Coates, Corporate Partner, commented:
We were thrilled to support Henri and the team on this exciting investment. The fitness market only continues to grow, and we look forward to seeing how this investment by Puma Growth Partners helps NRG grow and increase its market share.
The team was led by Corporate Partner David Coates and Senior Associate Ashwin Pillay, supported by Corporate Associates Ayman Shehata and Anna Schwarze, Tax Partner Robert Birchall and Tax Associate Tim Edgar.
