Nectar Capital is pleased to announce the successful merger between its portfolio company Boom Cycle, London’s leading indoor cycling group and KOBOX, the leading combat sports exercise group to form the UK’s leading boutique fitness group now renamed United Fitness Brands.
Boom Cycle is London’s first indoor cycling business, founded in 2011 by Hilary and Robert Rowland. It has now expanded to five studios across London, offering an immersive workout experience bringing together cycling, a world-class sound system and fun to its community.
KOBOX, co-founded by Joe Cohen in 2015, has three studios across London offering a unique experience of boxing classes in state-of-the-art underground fitness space. The company already boasts over 80k members.
United Fitness Brands is the UK’s first fitness ‘supergroup’, bringing together two of London leading boutique fitness formations. The fusion will accelerate growth, scale, and the overall experience for customers within the industry, and kick-start an industry-defining fitness movement.
United Fitness Brands is planning an immediate expansion, opening Boom Cycle studio in KOBOX King’s Road flagship location and KOBOX branch opening in Boom Cycle Waterloo.
Nectar Capital is proud to be a founding Boom Cycle investor since its launch in 2011. Alongside other investors Pembroke VCT, Andurand Capital, and Prism Equity, Nectar will continue to support the newly formed United Fitness Brands through its expansion, growth, and further acquisitions that are already in the pipeline.
Joe Cohen of KOBOX assumes the role of CEO of United Fitness Brands, with Robert Rowland of Boom Cycle becoming CEO, and Hilary Rowland assuming marketing leadership of the unified group.
United Fitness Brands is chaired by David Lloyd, Founder of David Lloyd Leisure Clubs and is already in an advanced closing process with several other local fitness brands to partner with them as well as for further organic expansion outside the capital.
Nectar Capital acted as corporate finance advisor to United Fitness Brands in the transaction.
David Lloyd – I am very pleased and excited on our first Merger, we are now looking at bringing in more successful Brands to add to our United Fitness Brands. Our Mission statement is to bring several of the Best Boutique Leisure offerings under one umbrella.
Robert Rowland – We are really happy to be able to have once again partnered with Nectar Capital on another successful deal. Especially one so groundbreaking for the UK and European Fitness Industry and look forward to accelerated expansion under an enlarged team with excellent boutique studio brands to guide to future success.