Nectar Capital is pleased to announce the completion of an expansion capital investment round for Boom! Cycle, London’s leading indoor cycling studio group. The investment syndicate has been led by Andurand Ventures and includes Pembroke Capital, Nectar Capital, and early round angel investors. Nectar Capital acted as corporate finance advisor to Boom! Cycle.
Over the next few years, Boom! Cycle will rapidly expand from their first location in Shoreditch to multiple sites around London, affirming their position as the UK and European leader in this fast-growing fitness segment.
Hilary Gilbert, co-founder of BOOM! Cycle said “Indoor cycling is one of the most powerful ways to exercise. It delivers intense weight-loss and strength building in a short period of time. BOOM! Cycle offers classes for all levels of experience, in a range of musical styles and session lengths, not to mention Bodyboom!, our unique sessions that include weights. It’s a great way to exercise, its cost-effective, and a great way to meet others. Our first location in Shoreditch has been highly successful, and we are pleased to roll out many more locations in London so even more Londoners can benefit from the Boom! phenomenon.”
Scott Rudmann, founder and Managing Partner of Nectar Capital said “With this financing round, Boom! Cycle is positioned to execute its ambitious roll-out across London. The quality and potential of the business is evident by the stellar investor group. The founders Hilary Gilbert and Robert Rowland are experienced entrepreneurs with a clear vision of bringing Boom! Cycle to the Capital. We are delighted that we were able to help the company and arrange its financing round, and we are delighted to be investors in the business.”
About BOOM! Cycle: The mission of BOOM! Cycle is, quite simply, to put the soul & fun back into exercising with efficient and effective workout’s dosed with a whole lot of energy to do so at a price fiercely competitive to that of any inner-London gym or fitness studio in an atmosphere conducive to the patron’s motivation and enjoyment. BOOM! Cycle combines top-class, highly-trained instructors with a convenient location, schedule, and no-nonsense approach of getting the most burn for our clients’ hard-earned buck. Avoiding monthly membership fees, clients pay only when they want to work out. This makes it possible for clients to use BOOM! Cycle as their sole source of exercise or a supplement to an existing fitness routine.
About Nectar Capital: Founded in 2002 by Scott Rudmann, Nectar Capital has a successful track record in asset management in private equity as well as investment advisory services for family offices in the private equity sphere where the firm has focused on growth capital for the media, leisure and creative industries. Nectar also operates its flagship hedge fund product, the Nectar Global Alpha Fund.
Forward Looking Statements and other important information:
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