PUMA Growth Partners has announced a £4million investment into NRG Gyms – an award-winning, high-value, low-price group founded by Shafiq Ahmed.
The funds will support NRG in continuing to expand its portfolio of gyms across the UK and 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.
Shafiq said: “I am delighted that Puma has chosen to continue to support the growth of NRG with further investment into the business.
“It’s a testament to the success of the business and will allow us to continue to grow our member communities, develop our pipeline of new sites all whilst continually investing in the team, people development and infrastructure required to grow further.”
The chain has also recently strengthened its management team with the appointment of Neil Greenhalgh to its Board as non-executive director.
A qualified chartered accountant, Neil spent nearly 20 years at JD Sports, including five years as chief financial officer.
He was highly instrumental in devising and executing the strategy which saw the business grow from a small cap listed business with 330 stores across two countries, to a FTSE 100-listed global retailer.
Neil played a central role in JD Sports opening its own gyms, as part of which he led the Xercise4Less gym chain acquisition process in 2020.