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
Chervon Names Devin Murray Director of Sales - Northern Division19.10.2026 15:00:00 CEST | Press release
NAPERVILLE, IL / ACCESS Newswire / October 19, 2026 / Devin Murray joins Chervon as Director of Sales - Northern Division, effective October 19, 2026, reporting to Thomas Kentouris, Vice President of Field Sales. Murray joins Chervon after completing a six-year fast track career in TTI sales and sales management. Most recently, he was a Key End User Account Manager for Milwaukee charged with growing the pro tool business with large end users. Murray's exceptional recruiting skills and leadership skills enabled him to build, manage and inspire highly effective sales teams at the store level. His account management prowess resulted in outstanding sales results and strong partnerships with multiple national accounts. "Early in his impressive career, Devin was identified as a high potential future superstar executive," said Thomas Kentouris. "His large end user pro tool experience is exactly what we need to help build our pro tool leadership position. His inspiring leadership skills combin
Chervon Names Krystle Adams Director of Sales Recruiting19.10.2026 15:00:00 CEST | Press release
NAPERVILLE, IL / ACCESS Newswire / October 19, 2026 / Krystle Adams joins Chervon as Director of Sales Recruiting, effective October 19, 2026, reporting to Matt DeFeo, SVP of Sales, Training and Recruiting. Over the past 9+ years, Adams has advanced through a series of increasingly responsible sales and recruiting positions at TTI. Earlier in her impressive career, Krystle distinguished herself as an outstanding sales representative and sales manager delivering consistently strong results. Most recently, she was a National Recruiting Operations Manager responsible for leading, coordinating, and implementing recruiting efforts across campuses nationwide. Krystle has demonstrated exceptional skills in developing and leading campus and field sales recruiting efforts. She also designed and executed a thriving national college internship program. "I feel incredibly fortunate to now have Krystle Adams in place to launch Chervon campus recruiting," said Matt DeFeo, SVP of Sales, Training and
Chervon Names Terry Lucero Director of National Accounts - Industrial19.10.2026 15:00:00 CEST | Press release
NAPERVILLE, IL / ACCESS Newswire / October 19, 2026 / Terry Lucero joins Chervon as Director of National Accounts - Industrial, effective October 19, 2026, reporting to Jeff Campbell, Senior Vice President of Industrial Commercial Sales. Lucero brings 25+ years of extensive experience in building professional tool businesses at national accounts, regional accounts, at the store level and at the end user level. Lucero started his career at Dewalt where he advanced through a series of sales, sales management and end user marketing positions over 5 years driving professional tool growth. Lucero went on to WW Grainger where he progressed through a series of business development and sales management positions. He was also a sales manager of professional equipment at United Rentals. Most recently, Lucero served as a director of sales at APEX Tool Group for the Americas. "Terry's impressive pro tool experience in industrial distribution, national account management and end user marketing make
Tenstorrent Announces a $1.5B Series E at a $6.2B Valuation19.10.2026 14:00:00 CEST | Press release
SANTA CLARA, CA / ACCESS Newswire / October 19, 2026 / Tenstorrent, the AI computing company, has closed $1.5B in Series E funding at a $6.2B post-money valuation. The round was led by Trace Capital and Innovation X, with participation from new and existing investors including Agostinelli Group, ARK Invest, Brett Barna, Cadence Ventures, Eclipse, Fidelity Management & Research Company, Maverick Silicon, Morgan Stanley, Protagonist, Sandisk, T. Rowe Price*, Tether Investments, Troluce Capital, Virtu Financial, and XTX Markets. Tenstorrent will use the capital to deploy Galaxy servers at scale, continuing to serve open-weight models across LLMs and video generation, and advance the AI and CPU IP it licenses to customers designing their own silicon. Tenstorrent sells AI compute at every level of the stack - from a single card or workstation to racks, superclusters, and custom IP. With an open-source software stack, developers can run frontier models locally and enterprises can deploy mode
OxyDew Analyzer: One Compact Instrument, Two Critical Gas Measurements19.10.2026 08:00:00 CEST | Press release
NAVAN, IE / ACCESS Newswire / October 19, 2026 / DwyerOmega introduces the new Ntron OxyDew Analyzer, a fully integrated solution that combines oxygen and moisture dew-point measurement in a single, compact wall-mountable analyzer. The result: fewer instruments to install, wire, and maintain, without sacrificing the accuracy and reliability that critical gas quality monitoring demands. By uniting two proven sensing technologies in one instrument, OxyDew cuts equipment costs, simplifies installation, and reduces ongoing maintenance, all without compromising performance. Operators monitor oxygen concentration and dew point simultaneously through a 3-inch color touchscreen, giving them a single point of control instead of two separate systems. OxyDew is available now throughout Europe and Asia Pacific. Integrated Dual Measurement for Reliable Process Monitoring At the heart of OxyDew is the integration of the proven Ntron SenzTx Oxygen Transmitter and Michell Easidew Dew-Point Transmitter
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