Raised capital to enable Gymbox to roll-out concept across London

The brief

The entertainment focused health and fitness gym chain, Gymbox, was in its second round of fundraising provided by private equity investor Hotbed. The growth capital needed to be used to finance the rollout of the gym across several further sites.

Our role

Baker Tilly previously advised the management team of Gymbox on their 2004 MBO from Cinven backed Fitness First.

We were mandated again in 2005 to help raise development capital and agree equity terms to finance expansion. We approached a limited number of private equity investors and received offers from three. A competitive process resulted in an attractive all equity deal funded by Hotbed with an additional debt facility from HSBC.

The funding allowed the Gymbox concept to be rolled out across London and other major UK cities. The private equity fundraising was led by Ali Aneizi.

Feedback

"Baker Tilly delivered again negotiating an excellent deal! they have been an integral part of our success."

Richard Hilton, Managing Director, Gymbox

How we can help you

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