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NRG Gyms has secured an £18.7 million funding package from HSBC UK to support seven gym openings over the next two years. The London-based operator plans to grow from 13 locations to 20, starting with sites identified in Leicester and Nottingham.
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 five more locations will be announced.
The funding package includes £10 million through a revolving credit facility, which NRG said will support the buildout of individual gyms. NRG said details of the rest of the package were not disclosed. The financing is the latest support from HSBC UK, which provided NRG with another eight-figure package in 2025 for its acquisition of Pump Gyms Limited.
NRG expects the expansion to create more than 70 jobs and increase revenue by over 60% during the next two years. Those figures are company projections. It also plans to invest in member-facing software and technology, use data to help select future sites, and develop its member ecosystem, including healthcare offerings.
The company describes its proposition as high-quality facilities at accessible prices. Its gyms offer large-format layouts, high-specification equipment, group classes and dedicated women-only training areas. Reported monthly memberships range from £21.99 to £27.95, depending on location.
Seven New Gyms and 70 Jobs
The funding is intended to support NRG’s plan to add seven gyms over the next two years. HSBC UK also provided the operator with an eight-figure package in 2025 for its acquisition of Pump Gyms Limited. If all seven planned openings proceed, NRG’s portfolio would grow from 13 locations to 20.
NRG forecasts more than 70 jobs and revenue growth of over 60% during the next two years. The company also plans to invest in software and use data to help select future sites.
NRG has identified Leicester and Nottingham for upcoming sites and says five more locations will be announced. The planned openings would expand its UK portfolio from 13 locations to 20.
HSBC’s Continued Support
HSBC UK has backed NRG for about a decade, according to founder and chief executive Shafiq Ahmed. Ahmed said that support helped the business more than double in size while it invested in its staff and infrastructure. The bank’s earlier eight-figure package in 2025 supported NRG’s acquisition of Pump Gyms Limited.
The planned openings come amid a sizeable UK fitness market. A recent Deloitte and EuropeActive report cited 12.2 million UK fitness memberships in 2025. That figure counts memberships, not individual people. The company’s expansion plan also includes exploring further acquisitions, Ahmed said.
““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
Five Sites Still Unnamed
NRG has identified Leicester and Nottingham for upcoming sites and says five more locations will be announced. The company has not disclosed details of the rest of the funding package beyond the £10 million revolving credit facility.
NRG forecasts revenue growth of more than 60% during the next two years and expects the expansion to create more than 70 jobs.
Site Announcements and Openings
NRG says it plans to announce five further locations and open seven gyms over the next two years. Leicester and Nottingham have been identified for upcoming sites.
It also says it will pursue further acquisition opportunities and invest in member-facing technology, data-led site selection and its member ecosystem. NRG said details of the rest of the funding package were not disclosed.
Key Questions
How much funding did NRG Gyms secure?
NRG secured an £18.7 million ($24.8 million) package from HSBC UK. The company said £10 million is available through a revolving credit facility for gym buildouts.
How many gyms does NRG plan to open?
The operator plans to open seven gyms over the next two years, growing from 13 UK locations to 20.
Where will the new gyms open?
NRG has identified Leicester and Nottingham. It says five additional locations are to be announced, but has not named them or provided opening dates.
What impact does NRG expect from the expansion?
The company forecasts more than 70 new jobs and revenue growth of over 60% during the next two years. These are projections, and NRG has not published the assumptions behind them.
Source: rss
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