Xercise4Less secures £5m from BGF to fund national gym rollout.
BGF has backed the low-cost gym chain with a £5m investment to support its expansion across the UK.
Xercise4Less operates a chain of large format low cost gyms across the UK, offering extensive equipment and space at affordable membership rates.
Xercise4Less has secured a £5m investment from BGF to support its national expansion plans. The funding will enable the low-cost gym operator to roll out approximately 100 new sites across the UK over the next five years.
Founded in 2006 by Jon Wright, the company currently operates nine large-format gym locations and serves around 80,000 members. Turnover more than doubled in the previous financial year to £7.5m, reflecting strong demand for its spacious out-of-town facilities.
The capital injection from BGF marks the third deal completed by the investor's northern team within a two-month period. Xercise4Less intends to use the backing to accelerate site acquisition and scale its workforce significantly.
From the founder
"BGF’s funding will give us the financial and operational facilities to continue our expansion at a key time for the market and we look forward to working with Richard and the team over the coming years."
Jon Wright
Founder and CEO at Xercise4Less
Investor perspective
"We are delighted to be working with Xercise4Less; it is an exciting brand with a very simple but attractive consumer offering. The company has established a unique model in a high growth sector and the management team, under Jon’s guidance, has demonstrated its expertise in rolling out new gyms over the past 18 months and consistently delivering a fantastic customer experience at the same time."
Richard Taylor
Investor, BGF
Use of funds
- 01Expand into international markets
- 02Grow the team
Investors
Categories
About the company
Xercise4Less
Xercise4Less operates large format low cost gym facilities across the UK.