Riyadh - Sharikat Mubasher: GymNation, the fastest-growing gym operator in the GCC, secured a $100 million private credit facility from certain funds, entities, and accounts managed and controlled by HPS Investment Partners, part of BlackRock.
Thث facility will accelerate GymNation’s mission to make world-class fitness affordable and accessible to everyone, the company stated in a press release yesterday.
The new investment will help the company continue its expansion across the GCC, targeting over 100 locations in the upcoming three years. It will also fuel the development of GymNation's proprietary technology platform, the data, AI, and machine learning infrastructure behind GymNation's industry-leading unit economics.
With this funding, GymNation evaluates new international markets where demand for affordable, high-quality fitness is strong, and the category remains significantly underpenetrated.
Loren Holland, CEO and Founder of GymNation, stated that securing the $100 million facility is a transformational milestone for GymNation and provides the platform for it to expand its footprint across the GCC and beyond. “What was most encouraging throughout the process was the conviction shown by HPS and all stakeholders involved, who despite the challenging geopolitical environment, never lost confidence in the business or the long-term prospects for the region.”
He revealed that GymNation will soon announce its first expansion outside the GCC into Asia.
Moreover, the transaction reflects GymNation’s rapid growth and evolution into a scaled regional platform capable of attracting global institutional capital.
