The funding will support the development of seven new gyms, including planned openings in Leicester and Nottingham, with five further locations yet to be announced.

The package includes a £10m revolving credit facility to fund the fit-out of new sites.

NRG Gyms operates large-format health clubs offering gym equipment, group exercise and female-only training areas. Alongside its estate expansion, the operator plans to invest further in member-facing technology, data-led site selection and the development of its wider health and fitness offer.

The company expects the expansion programme to create more than 70 jobs and increase turnover by more than 60 per cent over the next two years.

The latest deal follows an eight-figure funding package from HSBC UK in 2025, which supported NRG Gyms’ acquisition of Pump Gyms Limited.

Shafiq Ahmed, founder and CEO of NRG Gyms, said: ‘HSBC UK has supported the business over the last 10 years and that continued backing has been instrumental in helping us scale.

‘The team’s pragmatic, collaborative and commercial approach has helped us to more than double in size, invest in people and build the infrastructure required to operate a much larger business.

‘We have a strong pipeline of new sites ahead and are excited to explore further acquisition opportunities to accelerate our growth.’

George Raven, relationship director at HSBC UK, said: ‘More people are looking for affordable, flexible ways to stay active and NRG Gyms is meeting that demand as it grows into more towns and cities across the UK.’