Xercise4Less secures £42m in private investment to fund expansion plans
15 May 2018 . BY Tom Walker
Xercise4Less founder Jon Wright said the growth capital will allow the firm to tap into the growing demand for fitness.
/ Xercise4Less
Budget chain Xercise4Less has secured growth investment worth £42m from Swedish credit provider Proventus Capital Partners.
The funding will allow Xercise4Less to press forward with its aggressive expansion plans, which will see the operator open another 10 gyms by the end of 2018.
In total, the Leeds-based firm plans to open 40 gyms over the next two years, after setting itself a target of having 100 gyms by the end of 2020.
Launched in 2009, the company will open its 50th club in June this year and currently has more than 300,000 members – 30 per cent of whom have never previously been members of health clubs.
Jon Wright, founder of Xercise4Less, said the growth capital will allow the firm to tap into the growing demand for fitness.
"Unlike other budget operators we are not selling on price," Wright said.
"We thrive on changing lives, and feel this ability to offer more than the consumer imagined they could receive is what will help us to continue disrupting the budget model and maintain the clear water between traditional and low-cost clubs.”
Proventus Capital Partners specialises in medium-sized companies and it has invested in a wide range of industries, including the leisure sector, where it had a significant stake in travel giant Thomas Cook during its financial and strategic transformation.
CEO of Proventus Capital Partners, Daniel Sachs, said: “The core of our strategy is working with entrepreneurs and helping them grow their business by providing them access to bespoke capital that suits their unique situation.
"The fitness industry has long been a focus area for us and we are delighted to become a strategic financial partner to Xercise4Less in their continued development.”
"We summarise what we do in two words – functional art," says Gian Luca Innocenzi, CEO and
founder of MyEquilibria, which specialises in high-end outdoor exercise equipment.
Cryotherapy supplier Art of Cryo has created a new 12-person walkthrough cryotherapy chamber
at Cryo Center Coolzone Madeira, claimed to be the largest cold therapy treatment experience
in the world.
Egym has introduced Open Mode on its Smart Strength machines, enabling them to be used as a
replacement for traditional weights on the fitness floor, rather than solely as circuit-based
machines.
Myzone has announced the launch of MZ-Open, an access function that enables Myzone gym users
to experience all the benefits of Myzone’s world-renowned heart rate training biome through
their pre-owned Apple or Android smartwatch.
PerformX Live, the premier business of fitness event, has announced Dr Jonathan Leary,
founder
and CEO of Remedy Place, as the headliner for its 2024 event.
Elevate, the premier event in the physical activity, fitness, sports therapy and performance
sector, is thrilled to announce that registrations for its 2024 conference are now live –
and the response has been nothing short of exceptional.
Cardiff-based gym design and installation company, Absolute Performance, has been awarded
the contract to design, supply and install three gyms for Team GB for the 2024 games in
Paris.
As Third Space unveiled its latest club in Wimbledon at the end of 2023 as part of its growth
development into suburban, residential locations, it also revealed a new state of the art
Reformer Pilates studio at the new site in response to members seeking a low-impact, full-
body workout for all abilities.
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seca TRU seamlessly provides medical expertise for health-focused training with a clinically
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Xercise4Less secures £42m in private investment to fund expansion plans
15 May 2018 . BY Tom Walker
Xercise4Less founder Jon Wright said the growth capital will allow the firm to tap into the growing demand for fitness.
/ Xercise4Less
Budget chain Xercise4Less has secured growth investment worth £42m from Swedish credit provider Proventus Capital Partners.
The funding will allow Xercise4Less to press forward with its aggressive expansion plans, which will see the operator open another 10 gyms by the end of 2018.
In total, the Leeds-based firm plans to open 40 gyms over the next two years, after setting itself a target of having 100 gyms by the end of 2020.
Launched in 2009, the company will open its 50th club in June this year and currently has more than 300,000 members – 30 per cent of whom have never previously been members of health clubs.
Jon Wright, founder of Xercise4Less, said the growth capital will allow the firm to tap into the growing demand for fitness.
"Unlike other budget operators we are not selling on price," Wright said.
"We thrive on changing lives, and feel this ability to offer more than the consumer imagined they could receive is what will help us to continue disrupting the budget model and maintain the clear water between traditional and low-cost clubs.”
Proventus Capital Partners specialises in medium-sized companies and it has invested in a wide range of industries, including the leisure sector, where it had a significant stake in travel giant Thomas Cook during its financial and strategic transformation.
CEO of Proventus Capital Partners, Daniel Sachs, said: “The core of our strategy is working with entrepreneurs and helping them grow their business by providing them access to bespoke capital that suits their unique situation.
"The fitness industry has long been a focus area for us and we are delighted to become a strategic financial partner to Xercise4Less in their continued development.”
"We summarise what we do in two words – functional art," says Gian Luca Innocenzi, CEO and
founder of MyEquilibria, which specialises in high-end outdoor exercise equipment.
Egym has introduced Open Mode on its Smart Strength machines, enabling them to be used as a
replacement for traditional weights on the fitness floor, rather than solely as circuit-based
machines.
Myzone has announced the launch of MZ-Open, an access function that enables Myzone gym users
to experience all the benefits of Myzone’s world-renowned heart rate training biome through
their pre-owned Apple or Android smartwatch.
Cardiff-based gym design and installation company, Absolute Performance, has been awarded
the contract to design, supply and install three gyms for Team GB for the 2024 games in
Paris.
As Third Space unveiled its latest club in Wimbledon at the end of 2023 as part of its growth
development into suburban, residential locations, it also revealed a new state of the art
Reformer Pilates studio at the new site in response to members seeking a low-impact, full-
body workout for all abilities.
