Gym Nation, the GCC’s fastest-growing gym operator, has secured a US$ 100mn private credit facility from certain funds, entities and/or accounts managed, advised or controlled by HPS Investment Partners, part of BlackRock, the world’s largest asset manager.
Founded in the UAE in 2018 by Loren Holland, Frank Afeaki, and Ant Martland, Gym Nation was built on a simple mission: to make world-class fitness affordable and accessible to everyone.
Opening its first gym in Al Quiz, Dubai, Gym Nation has grown to become the Middle East’s largest low-cost gym operator, with close to 50 locations and over 200,000 members across the UAE, Saudi Arabia, and Bahrain.
Homegrown startup
“The GCC has created a world-class entrepreneurial environment which, as a UAE homegrown startup, we are proud to represent,” remarked Holland.
The transaction also marks a successful exit for existing financing partner Ruya Partners who played a pivotal role in supporting Gym Nation’s management buyout and expansion into Saudi Arabia.
More than 50 members of Gym Nation’s senior leadership team have been granted participation in the company’s long-term incentive equity plan, reinforcing alignment between management and shareholders as the business enters its next phase, a press statement concluded.
