The Gym makes the Sunday Times’ Fast Track 100
Bridges Ventures’ investee company The Gym Group has been named as the one of the UK’s fastest-growing companies in the Sunday Times Fast Track 100. The company came in 13th place in this highly prestigious list which ranks the fastest-growing private companies by sales, and is acknowledged by leading business figures as the definitive barometer of growth companies.
The Gym provides low-cost health and fitness facilities in purpose-built gyms which are open 24 hours a day and located mainly in underserved areas, with memberships starting from as little as £10.99 per month. Over the last three years the company recorded a compound average growth rate of 139.8%.
Bridges, along with The Gym’s CEO John Treharne, incubated the idea behind the business from the concept stage, with its Sustainable Growth Fund providing the initial finance for the fit-out of sites, with the first gym opening in Hounslow in 2008.
Today, the group has 30 sites across the country – with two more opening before the end of the year. Its revenues have grown from £1 million in 2008/9 to £13.5 million last year.
The Bridges Sustainable Growth Fund invests in growth businesses across the four impact themes of Underserved Areas, Education & Skills, Environment and Health & Well-being, with the aim to generate strong returns for investors as well as positive social impact.
Philip Newborough, Managing Partner at Bridges Ventures, said: “I am delighted to see the Gym Group receive this much deserved recognition. Over the last 5 years we have witnessed the growth of a business which is meeting the needs of its customers, as well as expanding its number of sites and sales at a highly impressive rate. The company is also having a positive social impact in local communities with most sites located in underserved areas and 40% of members being first-time gym goers.”
John Treharne, Chief Executive and founder of the Gym Group said: “We are delighted to have received such recognition. To be in the top 20 of the fastest growing companies in the UK is quite some achievement and is testament to the hard work and efforts of everyone at The Gym Group. We have a very strong foundation and platform, a market leading business and a focussed strategy from which to take the business forward and to build on our success to date. We have exciting plans for the future and a receptive market place to grow into…we plan to double again in the next couple of years.”
Hannah Randall – Capital MSL 0207 255 5177
The Gym Group
Matthew Smallwood – College Hill 020 7457 2020
Notes to Editors About Bridges Ventures Bridges Ventures LLP (“Bridges Ventures”) is a sustainable growth investor established in 2002 with a mission to use its commercial expertise to achieve focused social or environmental benefit, as well as attractive returns for investors. Bridges Ventures has raised six funds to date which total almost £275m: Sustainable Growth Funds I, II and III, the Bridges Sustainable Property Fund, CarePlaces Partnership and the Bridges Social Entrepreneurs Fund. Bridges currently have two property funds under management: Bridges Sustainable Property Fund and CarePlaces Fund. The Sustainable Property Fund is an entrepreneurial fund which invests in properties in regeneration areas and environmentally sustainable buildings. The CarePlaces Fund, a partnership between Bridges Ventures and Castleoak, concentrates on building first class, pre let care facilities for the elderly with a focus on sustainable design and construction. The Bridges Sustainable Growth Funds (I, II, III) invest in growth businesses across the four impact themes of Underserved Areas, Education & Skills, Environment and Health & Well-being. The Funds typically invest up to £10m at a time in ambitious, entrepreneurial businesses including early stage, growth capital and buyouts / buy ins. Since 2002, these Funds have made equity investments totalling over £75m in 34 businesses.
About The Gym Group Established in 2007 operating over 30 sites, The Gym Group is the longest established national operator of budget gyms offering affordable, flexible and rewarding gym membership – without compromising on quality. Memberships start from just £10.99 a month, with access to the most up-to-date resistance and cardiovascular gym equipment, no contracts, 24 hour access, along with highly trained and fully qualified and friendly staff to help members achieve the most from each and every visit. The Gym Group won Budget Gym of the Year at the National Fitness Awards 2011, and is also the only group operator in the fitness sector to be accredited by Investors in People, being especially commended for high motivation and energy levels displayed by the staff team. The Gym Group has been funded and supported, since inception in 2007, by Bridges Ventures who have committed £17.5 million to the business. Bridges has £275 million under management and has a 10 year proven track record in investing successfully to achieve social and environmental goals as well as delivering substantial financial returns.
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