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NRG Gyms secured an £18.7 million funding package from HSBC UK and plans to open seven gyms over the next two years. Leicester and Nottingham are named as upcoming locations; the company also forecasts more than 70 jobs and revenue growth of over 60%, though it has not provided detailed projections or a full breakdown of the funding.
NRG Gyms has secured £18.7 million from HSBC UK to open seven gyms over the next two years, expanding its UK portfolio from 13 locations to 20. The London-based operator has identified Leicester and Nottingham for upcoming sites and says the expansion is expected to create more than 70 jobs.
The funding package is valued at about $24.8 million, according to the report by Athletech News. NRG said £10 million will be available through a revolving credit facility to support the buildout of individual gyms. The company has not disclosed how the remaining funding is structured or allocated.
NRG has named Leicester and Nottingham as the first two planned locations. It expects to announce five more sites, bringing the planned total to seven. The operator forecasts that expansion will increase revenue by more than 60% over the next two years; that is a company projection, and the report does not provide a baseline or further details behind the estimate.
NRG describes its offer as high-quality fitness facilities at accessible prices. Its gyms include large-format layouts, higher-specification equipment, group classes and dedicated women-only training areas. Reported monthly membership prices range from £21.99 to £27.95, depending on location. The company also plans to invest in member-facing software and technology, use data to assess potential sites, and develop its member ecosystem, including healthcare offerings.
Seven New Sites and More Jobs
The financing gives NRG a route to add seven locations while spreading the buildout funding across individual gym projects. If completed as planned, the expansion would increase its current estate by more than half, from 13 sites to 20. The company’s forecast of over 70 new jobs points to a potential employment impact, although it has not provided a site-by-site hiring schedule.
The plan also extends beyond opening gyms. NRG says investment in software, data and member services will accompany its physical expansion. These plans could shape how it manages the larger estate and attracts members, but the company has not published specific product details, delivery dates or expected results.
The wider market provides context for the announcement. A recent Deloitte and EuropeActive report cited by Athletech News puts UK fitness memberships at 12.2 million in 2025. That figure describes memberships across the sector; it does not establish how many people are potential customers for NRG or predict the performance of its planned sites.
HSBC Backing and Earlier Growth
The new package is the latest funding support NRG has received from HSBC UK. The bank provided an eight-figure funding package in 2025 to support NRG’s acquisition of Pump Gyms Limited, according to Athletech News. The report does not give the exact amount of that earlier package.
NRG founder and chief executive Shafiq Ahmed said HSBC’s backing over the past decade had helped the business more than double in size while it invested in its team and infrastructure. The report does not specify the dates or locations behind that growth. The latest plan builds on the operator’s existing 13-site portfolio and includes both new openings and exploration of further acquisition opportunities.
NRG’s reported monthly prices vary by location, and its stated facility mix includes group fitness classes and dedicated women-only training areas. The company has not said whether the seven planned sites will share the same layout, class schedule or pricing. Those details may vary as locations are selected and developed.
““We have a strong pipeline of new sites ahead and are excited to explore further acquisition opportunities to accelerate our growth.””
— Shafiq Ahmed, NRG Gyms founder and CEO
Funding and Site Details Pending
The company has identified Leicester and Nottingham, but has not named the other five planned locations or provided opening dates for any of the seven gyms. The pace of the rollout could depend on site selection, construction and other factors not described in the report.
NRG has also not detailed the full terms or use of the £18.7 million package. It disclosed that £10 million will be provided through a revolving credit facility, but the arrangement for the balance remains unspecified. The company’s forecasts for more than 70 jobs and revenue growth above 60% are expectations; no supporting assumptions or measurement baseline were provided.
Details of the planned software, technology and healthcare offerings are also limited. It is not yet clear what services NRG intends to add, when they will launch or how they will be integrated into memberships.
More Locations and Buildout Plans
NRG says it plans to announce five additional locations after identifying Leicester and Nottingham. Those announcements should clarify where the company expects to add sites and allow a closer view of its two-year rollout. The company has not provided a calendar for the announcements or gym openings.
As projects advance, further information may show how the revolving credit facility will support individual builds and how hiring will be distributed among locations. NRG has also said it will explore acquisition opportunities and invest in member-facing technology and services, but it has not set out specific milestones for those efforts.
Key Questions
How much funding did NRG Gyms secure?
NRG secured £18.7 million from HSBC UK, reported as about $24.8 million. The company said £10 million will be available through a revolving credit facility; it has not disclosed details of the remaining funding.
Where will the new NRG Gyms open?
Leicester and Nottingham are the two locations NRG has identified. Five more locations are expected to be announced, but the company has not yet named them.
How many gyms does NRG plan to operate?
NRG plans to grow from 13 locations to 20 over the next two years by opening seven gyms.
How many jobs could the expansion create?
NRG expects the expansion to create more than 70 jobs. The company has not provided a hiring timetable or breakdown by location.
What else will NRG invest in?
NRG says it plans to invest in member-facing software and technology, use data to assess potential locations and develop its member ecosystem, including healthcare offerings. Specific services and launch dates have not been announced.
Source: rss
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