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NRG Gyms has secured an £18.7 million funding package from HSBC UK and plans to grow from 13 to 20 locations over the next two years. The operator has identified Leicester and Nottingham for new gyms; it expects the expansion to create more than 70 jobs and lift revenue by over 60%, according to the company.
NRG Gyms has secured £18.7 million ($24.8 million) in funding from HSBC UK to open seven gyms over the next two years, taking 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.
NRG said it will use the funding to accelerate its expansion across the United Kingdom. The company has named Leicester and Nottingham as the locations for two planned gyms, with five further sites to be announced. It has not provided opening dates for the locations.
£10 million of the package will be made available through a revolving credit facility to support the buildout of individual gyms, according to the report by Athletech News. NRG has not disclosed the terms or allocation of the remaining funding. The dollar equivalent of the overall package is reported as $24.8 million.
The operator expects its revenue to increase by more than 60% over the next two years as it expands. That is a company projection, not a reported result. NRG also says the growth phase will include investment in member-facing software and technology, data-led site selection and its member services ecosystem, including healthcare offerings.
Seven New Gyms and 70 Jobs
The funding gives NRG a source of capital for a defined expansion plan: seven additional locations over two years. If completed, the plan would increase its current estate of 13 gyms by more than half and extend its presence into more UK towns and cities. The company’s forecast of over 70 new jobs indicates a potential employment impact, although NRG has not published a breakdown by location or role.
The package also continues a relationship with HSBC UK that NRG says has supported its growth for a decade. Athletech News reported that the bank provided another eight-figure package in 2025 to support NRG’s acquisition of Pump Gyms Limited. The latest financing therefore follows an acquisition-backed phase of growth, while the new plan focuses on opening sites and investing in digital and member services.
For people considering a gym membership, the planned openings could add more local options, but pricing and facilities will depend on each site. NRG says its model combines large-format gyms, high-spec equipment, group classes and dedicated women-only training areas, with memberships generally priced at £21.99 to £27.95 a month. Prices vary by location, and the company has not provided the rates for its planned gyms.
HSBC Backing Follows Pump Gyms Deal
NRG describes its offer as high-quality fitness facilities at accessible prices. Its existing gyms include large-format layouts, equipment, group fitness classes and women-only training areas. Reported monthly membership prices range from £21.99 to £27.95, depending on location.
The new package is the latest HSBC support for the operator. NRG founder and chief executive Shafiq Ahmed said the bank’s backing over the past decade helped the company more than double in size while investing in staff and infrastructure. In 2025, HSBC provided NRG with another eight-figure funding package for its acquisition of Pump Gyms Limited, according to Athletech News.
The report cites a Deloitte and EuropeActive study that put UK fitness memberships at 12.2 million in 2025, against a wider trend of growth in Europe’s fitness sector. That sector figure provides market context; it does not establish how many people hold memberships with NRG or predict demand at the operator’s future sites.
““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 chief executive
Five Sites Still Unnamed
NRG has named Leicester and Nottingham, but has not announced the other five planned locations or given opening dates for any of the seven gyms. The schedule could affect when jobs are created and when the new sites contribute revenue.
The operator has not disclosed the details of the funding package beyond the £10 million revolving credit facility. The remaining amount, the package’s other terms and how much of it will be drawn are not specified in the report. NRG’s revenue growth and job creation figures are projections, and the available information does not set out the assumptions behind those forecasts.
The company has also referred to possible acquisitions and plans for software, technology and healthcare offerings, but has not detailed specific deals, products, spending amounts or launch dates. It is not clear whether those initiatives will be funded from this package or through other sources.
Location and Opening Announcements
NRG says it expects to announce five more locations as it advances the seven-gym plan. The company has not set out a public timetable for those announcements or for the Leicester and Nottingham openings. Further details on locations, construction and recruitment would clarify how the two-year target is progressing.
The operator says it will use a data-driven approach to select future sites and invest in member-facing technology and its wider member ecosystem. Further company updates are needed to show what those investments will involve. NRG’s targets of more than 70 jobs and revenue growth above 60% are expected outcomes over the next two years; actual results will depend on the pace of openings and business performance.
Key Questions
How much funding did NRG Gyms secure?
NRG secured an £18.7 million ($24.8 million) funding package from HSBC UK. The company said £10 million will be available through a revolving credit facility for gym buildouts; it has not disclosed details of the rest.
How many gyms does NRG plan to open?
NRG plans to open seven gyms over the next two years, growing from 13 locations to 20. Leicester and Nottingham have been identified, while five locations remain to be announced.
Where will the new gyms be?
NRG has identified Leicester and Nottingham for upcoming openings. It has not yet named the other five locations.
What impact does NRG expect from the expansion?
The company expects the plan to create more than 70 jobs and increase revenue by over 60% during the next two years. These are company projections, and the report does not provide a breakdown or the assumptions behind them.
Source: rss
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