GymNation
21.11.2023 14:25:30 CET | ACCESS Newswire | Press release
Homegrown UAE fitness brand, GymNation, has proudly announced a management-led buyout of all equity held by previous investor, JD Gyms.
DUBAI, UAE / ACCESSWIRE / November 21, 2023 / Homegrown UAE fitness brand, GymNation, has proudly announced a management-led buyout of all equity held by previous investor, JD Gyms.
To view this piece of content from www.accesswire.com, please give your consent at the top of this page.The deal, backed by Tricap Investments and Ruya Partners, sees the GymNation founders and management team, Loren Holland, Frank Afeaki and Anthony Martland, become significant majority shareholders in the business they founded back in 2017.
Tricap Investments is a diversified principal investment group with offices in Washington D.C. and Dubai, specialising in the execution of both direct and fund investments, and private equity transactions.
Ruya Partners is an independent private credit firm based in Abu Dhabi whose investor base includes institutional funds from the GCC including UAE sovereign-backed Abu Dhabi Catalyst Partners, a joint venture between Mubadala Capital and Alpha Wave Global, and Jada Fund of Funds, a subsidiary of Saudi Arabia's Public Investment Fund (PIF).
Since its launch, GymNation has delivered on its mission of making fitness more affordable and accessible for the UAE population, and has rapidly grown from a single gym start-up into the UAE's leading gym operator with 12 gyms and over 60,000 members.
Having been voted "The Best Gym in the UAE" on Virgin Radio's The Kris Fade Show for the last 2 years running, and with over 40,000 five-star Google reviews, GymNation have cemented their position within the UAE as "The People's Gym" and are now set to replicate this success across the GCC.
Loren Holland, Founder & CEO, GymNation commented; "This management buyout is another exciting chapter for GymNation, and with the support and backing of Tricap Investments and Ruya Partners we are perfectly positioned to accelerate the growth of GymNation across the GCC. Within the coming weeks, we will be announcing our first six Saudi Arabian locations, a further four more UAE sites, as well as company formations in Qatar, Bahrain and Kuwait. GymNation has pioneered the democratisation of health and fitness across the UAE, which prior to our launch was recognised as the 2nd most expensive market in the world to own a gym membership. Now it's time for us to have the same impact across other GCC markets."
The innovative structure of the deal has allowed GymNation to launch a trailblazing Equity Incentivisation Scheme for the wider management team, aimed at attracting and retaining world-class talent, through rewarding, incentivising and aligning, key members of the team with direct equity in the business.
Frank Afeaki commented; "On the day of signing the deal, 15 GymNation management team members also signed their own documentation to become shareholders in the business, I am proud that we are able to reward the team in a way that no others within the industry do and have them as shareholders alongside myself, Loren and Ant."
Ant Martland added: "We have an exceptional management team, supported by significant ongoing investments into key technology and systems that are going to place GymNation at the forefront of the fitness industry. It's still very early days in our growth story, and the whole team couldn't be more excited, and motivated, to rollout GymNation across the region."
The management team were advised by James Wigglesworth at Orca Capital (Corporate Finance) who will also join the board as a Non-Executive Director at completion, DLA Piper (Legal), Tatsu Partners (Debt Advisory) and PwC (Financial, Tax and Commercial Vendor Due Diligence).
Tricap Investments were advised by TAAS Partners (Legal).
Ruya Partners were advised by Dentons (Legal).
About GymNation
GymNation is the UAE's leading gym operator. With the first location opening in 2018, the company has grown to 12 UAE locations, with over 60,000 members. With memberships starting from AED 99 per month and no-contract, cancel-anytime membership options, GymNation is here to make a difference and ensure that everybody in the GCC has access to affordable, world-class fitness facilities - that's why we call ourselves "THE PEOPLE'S GYM".
For more information on GymNation, visit: www.gymnation.com
About Tricap Investments
Tricap Investments is a diversified principal investment group with offices in Washington D.C. and Dubai. Tricap invests on behalf of its principals, shareholders, and partners. The group sources, develops, structures, and executes both direct and fund investments and private equity transactions. For more than 30 years, Tricap and its principals and partners have invested globally in real estate, infrastructure and technology sectors.
For more information on Tricap Investments, visit: www.tricapinvestments.com
About Ruya Partners
Ruya Partners is an independent private credit firm that provides bespoke funding solutions to private sector companies in developing markets. Ruya Partners investor base includes sovereign-backed and pension funds from the GCC including UAE based Abu Dhabi Catalyst Partners, a joint venture between Mubadala Capital and Alpha Wave Global, and Saudi Arabia based Jada Fund of Funds. Ruya Partners is headquartered in Abu Dhabi and regulated by the ADGM Financial Services Regulatory Authority.
For more information on Ruya Partners, visit: www.ruyapartners.com
Contact Information
Gym Nation
Head of PR
getfit@gymnation.com
SOURCE: GymNation
To view this piece of content from stats.newswire.com, please give your consent at the top of this page.View source version on accesswire.com:
https://www.accesswire.com/807594/gymnation-the-uaes-leading-gym-operator-announces-management-buyout
To view this piece of content from www.accesswire.com, please give your consent at the top of this page.
About ACCESS Newswire
Subscribe to releases from ACCESS Newswire
Subscribe to all the latest releases from ACCESS Newswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from ACCESS Newswire
MicroVision and Avular Collaborate to Advance Autonomous Sensing and Drone Integration for Next-Generation Infrastructure Applications7.5.2026 22:05:00 CEST | Press release
Integrated lidar and modular drone platforms enable scalable autonomy, mapping, and navigation across complex real-world environments REDMOND, WA AND EINDHOVEN, THE NETHERLANDS / ACCESS Newswire / May 7, 2026 / MicroVision, Inc., (Nasdaq:MVIS), a leader in advanced perception solutions, today announced the signing of a Memorandum of Understanding (MoU) with Avular Innovations B.V. to integrate their technologies and accelerate the development of next-generation autonomous systems for civil infrastructure and global commercial applications. By combining MicroVision's high-performance, solid-state lidar, optimized for reduced energy usage and increased operational efficiency, with Avular's modular drone platforms and system integration expertise, the companies are creating a flexible, scalable solution designed to address real-world operational challenges across global markets. The collaboration focuses on delivering advanced capabilities, including autonomous mission execution in GPS-de
Innodata Reports Record First Quarter 2026 Results7.5.2026 22:05:00 CEST | Press release
Revenue Up 54% Year-Over-Year, Beats Consensus by 18% Adjusted EBITDA of $25.0 Million Beats Consensus by 139%; Adjusted Gross Margin Expands to 47% Raises Full-Year 2026 Revenue Growth Guidance to ~40% or More, Up From ~35% or More Announces New Engagements With Big Tech Company Expected to Generate Approximately $51 Million of Revenue in 2026 NEW YORK, NY / ACCESS Newswire / May 7, 2026 / INNODATA INC. (Nasdaq:INOD) today reported results for the first quarter ended March 31, 2026. Revenue of $90.1 million, representing 54% year-over-year revenue growth. Adjusted Gross Profit of $42.6 million, representing Adjusted Gross Margin of 47%.* Adjusted EBITDA of $25.0 million, or 28% of revenue, an increase of $12.3 million from $12.7 million in the same period last year.* Net income of $14.9 million, or $0.46 per basic share and $0.42 per diluted share, compared to net income of $7.8 million, or $0.25 per basic share and $0.22 per diluted share, in the same period last year. Cash, cash equ
Ostathi, Operated by UniHouse, Pioneers the Middle East's First Digital Infrastructure Linking Structured Workforce Development to Verified Income7.5.2026 18:30:00 CEST | Press release
World Bank and Jordan Ministry of Digital Economy-Funded Programme - Delivering the Region's First Auditable Connection Between Structured Capacity Development and Verified Income LONDON, UK / ACCESS Newswire / May 7, 2026 / Ostathi, owned and operated by UniHouse, today announced the live national deployment of a proprietary digital ledger infrastructure in Jordan - a first-of-its-kind system across the Middle East and Africa that connects an individual's structured capacity development, competency certification, gig economy and marketplace participation, and income generation into a single, auditable digital chain, integrated directly with regulated national fintech platforms. Ostathi Jordan - live deployment under the World Bank Youth, Technology and Jobs programme in partnership with Jordan's Ministry of Digital Economy and Entrepreneurship. The deployment is funded under the World Bank Youth, Technology and Jobs (YTJ) Project in partnership with Jordan's Ministry of Digital Econom
Loar Holdings Inc. Reports Q1 2026 Record Results and Upward Revision to 2026 Outlook7.5.2026 14:30:00 CEST | Press release
WHITE PLAINS, NY / ACCESS Newswire / May 7, 2026 / Loar Holdings Inc. (NYSE:LOAR) (the "Company," "Loar," "we," "us" and "our"), reported record results for the first quarter of 2026. First Quarter 2026 Net sales of $156.1 million, up 36.1% compared to the prior year's quarter. Net income of $11.1 million, compared to $15.3 million for the prior year's quarter, primarily resulting from higher interest, higher non-cash amortization of acquired intangible assets, and the non-recurring non-cash recognition of inventory step-up related to the LMB and Harper Engineering acquisitions. Diluted earnings per share of $0.12 compared to $0.16 for the prior year's quarter, primarily resulting from higher interest, higher amortization of acquired intangible assets, and the non-recurring non-cash recognition of inventory step-up related to the LMB and Harper Engineering acquisitions. Adjusted EBITDA of $63.2 million, up 46.6% compared to the prior year's quarter. Net income margin of 7.1% compared t
Able Device Introduces SIMbae(TM), Enabling Deterministic AI Execution at the Identity Layer7.5.2026 14:15:00 CEST | Press release
From Connectivity Management to Execution. AI predicts. SIMbae enforces. RALEIGH, NC / ACCESS Newswire / May 7, 2026 / Able Device today announced a major evolution of its SIMbae™ technology, introducing AI-driven connectivity execution directly within the SIM/eSIM secure element - transforming the SIM into a deterministic enforcement engine for intelligent mobile networks. Across the telecom industry, artificial intelligence is rapidly being adopted to analyze network data, predict device behavior, and recommend connectivity optimizations. However, a critical gap remains: while AI generates insights, there has been no universal mechanism to enforce those decisions consistently across devices, networks, and geographies. SIMbae closes that gap. By embedding deterministic policy execution inside the SIM - the most widely deployed secure element - SIMbae turns AI insight into real-world device behavior without requiring applications or device firmware changes. AI predicts. SIMbae enforces
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom