Select Group announces the sale of GymNation to JD Sports Gyms

Since the initial investment by Select Group in 2018, GymNation has rapidly grown from an entrepreneurial start-up into the UAE’s leading gym operator with seven facilities and over 40,000 members

Dubai, United Arab Emirates: Select Investments Limited, a wholly-owned subsidiary of Select Group, one of the region’s most prominent privately-owned multi-disciplinary corporates, has announced the sale of GymNation to JD Sports Gyms Ltd. (JD Gyms), part of FTSE 100 entity, JD Sports Fashion PLC.

The homegrown UAE start-up was founded in 2018 and has since evolved into one of the leading gym operators in the Middle East, with several locations across the UAE in Dubai, Ras al Khaimah and Abu Dhabi with more sites in the pipeline.

Since its launch in June 2018, GymNation has revolutionised the UAE fitness industry, reaching over 40,000 members across the country.

The UAE’s fastest-growing fitness brand boasts the largest gym facilities in the country, with workout spaces ranging from 25,000 to 50,000+ sq ft in size. It offers over 200 (free) classes a week per gym, the latest generation Matrix gym equipment and was the first in Dubai to operate 24x7 throughout the year.

The sale of GymNation to JD Sports Gyms Ltd. highlights Select Group’s investment strategy which is centred around identifying high-potential businesses, creating value by positioning the portfolio company for the next stage of growth and maximizing returns for stakeholders. Select Group is actively pursuing new investment opportunities in early-stage and mid-market businesses to deliver sustainable growth and value-creation.

Commenting on the deal, Rahail Aslam, CEO of Select Group said: "The investment in GymNation and subsequent exit through a sale to a strategic buyer perfectly summarizes Select Group’s investment philosophy. We proactively invest in and ensure ongoing value creation through commercial improvements and strategic initiatives. We are proud of GymNation’s extraordinary growth over the past three years and believe this will continue under the umbrella of JD Sports Gyms Ltd.”

Alun Peacock, Managing Director of JD Gyms, said: “We’re incredibly excited to have acquired GymNation and partnered with the management team. The acquisition will see the three founders – Loren, Frank and Ant - continue to lead the day to day business activities and retain a significant minority shareholding. GymNation is a very successful business with an excellent offering, which complements that of the JD Gyms business in the UK. We look forward to working with the management team to springboard the next stage of growth in the UAE, alongside further exciting opportunities across the wider GCC region.”

Loren Holland, Founder & CEO, GymNation commented; “We  look forward to continuing to improve the health and wellness of the population in line with the UAE’s quest to become the “most active city in the world”, and having a supportive partner such as JD Gyms will be an enormous benefit. We believe the acquisition of GymNation, a UAE homegrown start-up, by one of the leading international gym operators who themselves are part of a FTSE 100 PLC group, is an entrepreneurial and investment success story.

Select Investments Limited was advised by Clyde & Co. LLP, JD Gyms Ltd were advised by Pinsents Masons LLP and Management were advised by PWC Legal on the transaction.

About Select Group

Since its inception in 2002, Select Group has forged an outstanding reputation for credibility and quality. The company’s projects comprise award-winning real estate developments in the G.C.C. and Europe. With the development division at the core of the business, over 7,000 homes with a B.U.A. of 13.5 million square feet and G.D.V. of AED 11.5 billion have been delivered to date. Another 3,750 homes with a B.U.A. of 6.5 million square feet with G.D.V. of AED 6 billion are currently at various stages of development.

About JD Sports Gyms Ltd

Founded in 2013, JD Gyms owns and operates 75 gyms across the UK. JD Gyms operate as a premium low-cost gym chain, offering members a luxury fitness experience on an affordable basis. JD Gyms is part of JD Sports Fashion PLC, which has over 3,300 stores globally, across 32 territories.

About GymNation

GymNation is the UAE’s most affordable and flexible gym, with gym memberships starting from AED99 per month. Its gyms have a welcoming, no-judgment policy with nearly a third of its members being first-time gym users who are only just starting on their health and fitness journey. GymNation is here to make a difference and it wants to make sure everybody in the UAE has an affordable and welcoming gym option with the best fitness classes and facilities.

© Press Release 2022