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
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
AstraZeneca and OMP Demonstrate Planning at the Speed of Change at Gartner Supply Chain Symposium/Xpo(TM) 20267.5.2026 14:00:00 CEST | Press release
How decision velocity closes the gap between insight and action in complex, fast-moving supply chains ANTWERPEN, BE / ACCESS Newswire / May 7, 2026 / OMP, a leader in AI-powered supply chain planning, brings AstraZeneca to the Gartner Supply Chain Symposium/Xpo™ 2026 in Barcelona. Together, they will share how AstraZeneca is transforming planning to keep pace with increasing complexity and constant change - building an integrated, decision-centric approach powered by OMP's Unison Planning™ platform and UnisonIQ AI orchestration. AstraZeneca's journey to decision-centric planning Diane Gorman, Network Supply Planner at AstraZeneca, takes the Gartner stage to share how the global biopharmaceutical company is evolving from spreadsheet-based planning to integrated, capacity-aware decision-making. The session covers how this shift improves visibility into constraints and strengthens outcomes across campaign management, capacity planning, and detailed scheduling. Gorman will address: What it
How to Clear the Strait of Hormuz from the Air: UMag Solutions Launches F1Mag(R) - an Unmanned Solution for Rapid Naval Mine Detection and Anti-Submarine Warfare7.5.2026 13:55:00 CEST | Press release
BIRKERØD, DK / ACCESS Newswire / May 7, 2026 / F1Mag® extends UMag's drone-based magnetic sensing portfolio with a high-speed, airborne system for real-time detection of naval mines and submarines in open-sea environments, covering up to 6,000 hectares per hour, without placing marine vessels and personnel at risk. Why this matters now As Iranian sea mines remain unaccounted for in the Strait of Hormuz, NATO's Baltic Sentry mission scales up patrols of subsea infrastructure, and Black Sea drift mines continue to threaten civilian shipping, UMag Solutions today launches F1Mag®, an airborne magnetic sensing system that lets defence operators detect naval mines, submarines and uncrewed underwater vehicles (UUVs) from the air - at speeds of up to 120 km/h, without deploying anything into the water. After more than a year of testing with both naval and army units, F1Mag® is now officially launched. F1Mag® can be mounted on any drone and flown over the area of interest. It detects the magnet
Polaris Renewable Energy Announces Q1 2026 Results7.5.2026 13:50:00 CEST | Press release
TORONTO, ON / ACCESS Newswire / May 7, 2026 / Polaris Renewable Energy Inc. (TSX:PIF) ("Polaris Renewable Energy" or the "Company"), is pleased to report its financial and operating results for the quarter ended March 31, 2026. This earnings release should be read in conjunction with the Company's consolidated financial statements and management's discussion and analysis, which are available on the Company's website at www.PolarisREI.com and have been posted on SEDAR+ at www.sedarplus.ca. The dollar figures below are denominated in US Dollars unless noted otherwise. HIGHLIGHTS For the quarter ended March 31, 2026 consolidated energy production decreased by 5% compared to the same quarter in 2025, with total production of 205,317 MWh versus 216,344 MWh for the quarter ended March 31, 2025. The decrease was attributable to the scheduled major maintenance in Nicaragua, with no major maintenance in the comparative period, as well as higher curtailment in the Dominican Republic. This was pa
Polaris Renewable Energy Declares Quarterly Dividend7.5.2026 13:50:00 CEST | Press release
TORONTO, ON / ACCESS Newswire / May 7, 2026 / Polaris Renewable Energy Inc. (TSX:PIF) ("Polaris Renewable Energy" or the "Company"), is pleased to announce that its board of directors has declared a quarterly dividend of US$0.15 per common share outstanding. This dividend will be paid on May 22nd, 2026, to shareholders of record at the close of business on May 14th, 2026. The dividend is an "eligible dividend" as designated for Canadian federal, provincial, and territorial income tax purposes. The board of directors of Polaris Renewable Energy remains committed to paying a quarterly dividend and will evaluate further dividend increases, as appropriate, going forward. About Polaris Renewable Energy Inc. Polaris Renewable Energy Inc. is a Canadian publicly traded company engaged in the acquisition, development, and operation of renewable energy projects in Latin America & the Caribbean. We are a high-performing and financially sound contributor to the energy transition. The Company's ope
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