Deal adds a fourth brand to fitness and wellbeing ‘supergroup’
Pembroke VCT, the venture capital trust focused on backing early-stage businesses with exceptional founders and management teams, is pleased to announce that portfolio company United Fitness Brands (‘UFB’) has further expanded its health and wellbeing ‘supergroup’ with the addition of triyoga – which joins existing UFB brands Boom Cycle, KOBOX and Barrecore. Adding triyoga will extend the reach of UFB – which is chaired by David Lloyd, founder of David Lloyd Leisure Clubs – to over 25 sites across the UK.
Pembroke VCT is a long-term investor in Boom Cycle, a founding member of UFB, having first invested in 2013. Since its inception in March 2021, UFB has successfully launched three new studio locations – KOBOX Waterloo, Barrecore Chelsea and Barrecore St Mary Axe – and has re-launched Boom Cycle Holborn following a full refurbishment. The supergroup’s growing footprint further advances its mission to become Europe’s largest boutique studio chain.
Founded by Jonathan Sattin in 2000, triyoga has become London’s top destination for yoga, pilates and treatments with the aim to inspire and help people lead healthier lives by creating the highest quality wellbeing centres.
This is UFB’s fourth acquisition since the Company was founded in 2021, demonstrating its rapid growth and success at identifying the UK’s pioneering fitness concepts.
A contributing factor to this rapid expansion is the ongoing management of each company by its expert team, under the senior management team at UFB, which ensures the highest quality and consistent service delivery for customers.
UFB continues to look for more homegrown fitness offerings to add to its roster and plans to expand both nationally and internationally by accelerating the growth of its existing brands.
Andrew Wolfson, CEO of Pembroke Investment Managers LLP commented; “We are delighted to see United Fitness Brands seize this opportunity to expand and diversify its business, despite the challenges of the pandemic. We look forward to supporting Boom Cycle, KOBOX, Barrecore and triyoga in their next stage of growth.
“Pembroke VCT provides its investors with the opportunity to share in the growth of some of the UK’s most exciting and innovative smaller companies, across industries with strong prospects. United Fitness Brands is an excellent example of this opportunity.”
Joe Cohen, CEO of United Fitness Brands added; “We are pleased to welcome triyoga to our curation of brands at UFB, we aim to uphold the values of authenticity and excellence that Jonathan and his team have created at triyoga. This fusion adds another dimension of wellness to our company that we are looking forward to growing and sharing ideas.”