BGF injects £5m into Xercise4Less

The business has also secured an increased debt facility of £20m as well as £6m in asset finance and leasing facilities from Lloyds Bank.

The capital will enable Xercise4Less to open new sites across the UK. The Yorkshire-based firm currently has 24 locations and is looking to expand to 100 within the next few years.

Previous funding
BGF first backed Xercise4Less in August 2013, investing £5m, when the company operated just nine fitness centres. The GP then invested a further £2m in the business in May last year.

Company
Founded in Castleford in 2006, Xercise4Less currently operates 24 gyms across the UK. The business is set to expand by opening new locations in London and the south-east of England.

The company’s turnover increased from £7.1m to £13m in the last financial year, with EBITDA increasing from £1.7m to £3.4m, according to media reports.

People
Richard Taylor, an investment director at BGF, worked on the deal. Ex-rugby player John Wright is the CEO and founder of Xercise4Less.

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• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom
• BGF (Business Growth Fund)