Urban Gym Group has attracted additional growth capital of Euro 10 million. Fitness entrepreneurs Han Doorenbosch and Marjolijn Meijer will use this to open six new locations in the next year. The capital was funded by Rabobank for a large portion and by Dutch Mezzanine Fund (DMF) for a smaller portion; both parties already invested a total of Euro 16 million in Urban Gym Group last year.
Han Doorenbosch: “A clear vision for the future and solid business plan is the basis for our growth strategy.” In addition to owners Hand Doorenbosch and Marjolijn Meijer and informal investor Jordy Kool, the team further consists of co-owners Michael Rustwat (commercial director TrainMore) and Barbara den Bak (director High Studios).
The Urban Gym Group is planning to open a new TrainMore location in Groningen and Rotterdam in 2020, and is planning to further expand in Amsterdam with multiple locations. At this moment the group has 18 locations and wants to grow to at least 24 in 2020.
Hogenhouck advises Urban Gym Group in strenghtening their position through acquisitions and with attracting growth capital, together with partner Roodhals Capital.
Read the article (in Dutch) at De Ondernemer