Urban Gym Group has raised an additional 10 million euros in growth capital. Entrepreneurs Han Doorenbosch and Marjolijn Meijer plan to use this funding to open six new locations next year. A significant portion of the growth capital comes from Rabobank, and a smaller portion from the Dutch Mezzanine Fund (DMF); both parties already invested 16 million euros in Urban Gym Group last year.
A solid business plan with a clear vision for the future
Han Doorenbosch: “Of course, it’s all about having a solid business plan with a clear vision for the future. That also involves the ability to grow.” In addition to owners Han Doorenbosch and Marjolijn Meijer and investor Jordy Kool, the team includes co-shareholders Michael Rustwat (commercial director at TrainMore) and Barbara den Bak (director at High Studios).
The Urban Gym Group will open a TrainMore club in Groningen and Rotterdam in 2020 and plans to expand further in Amsterdam with several locations. UGG currently has 18 locations, and that number will increase to at least 24 in 2020.
Hogenhouck is advising Urban Gym Group on how to strengthen its position
Hogenhouck and its partner, Roodhals Capital, facilitated the growth financing. Watch thevideofeaturing Han Doorenbosch and Marjolijn Meijer discussing the raising of growth capital and the collaboration with Hogenhouck.
Be sure to read the article onDe Ondernemer as well
