Urban Gym Group (UGG) has snapped up Sparring Partners Holdings, owner of UK-based boutique brand, Gymbox, which currently has ten sites open and trading.

The value of the consideration was not disclosed.

During the transition and integration of the two businesses, Neil Randall, CEO of UGG and CFO, Pascal Averdijk, will take the reins, while the current Gymbox leadership team – Marc Diaper (CEO), Scott Vernon (CFO) and David Cooper (co-founder) – will exit.

Randall said: "Gymbox is an iconic business with a unique personality and there are great synergies between our brands.

"This deal marks the beginning of an exciting new chapter, starting with the development of a new flagship club in Finsbury Park, London, along with further investments into the current estate.

"On behalf of all at Urban Gym Group, I would like to extend my gratitude to Marc, Scott and David and wish them the very best for their next challenge," he said.

The Finsbury Park site has been on the Gymbox development roster for some time, but was held up by the pandemic.

Gymbox locations have reduced from 13 to ten sites since the start of the pandemic, for various reasons, including expired leases.

Diaper said: “This acquisition is testament to the incredible work our team has put into growing the brand and I’d like to thank each and every team member both past and present for their contribution.”

Gymbox had a tough pandemic, with losses mounting to (£12,814,783) in 2020 before stabilising. It lost £596,338 in its latest set of accounts which were filed this year for 2022.

About Urban Gym Group

Urban Gym Group has 40 clubs and studios in major cities across the Netherlands under its flagship label, TrainMore which gives members a €1 discount for each workout they complete.

Also in the UGG group is Clubsportive, which is situated in the Zuidas area of Amsterdam, offering high-end fitness facilities.

Renessence is a wellbeing center at the heart of Zuidas, blending science and spirituality. It offers exclusive services, therapies, programmes, classes and products.

BTY CLB offers energetic booty workouts in a club atmosphere, with light shows, a stage and entertainers.

UGG's franchised PILAT3S concept has been designed to maximise the benefits of traditional Pilates through dynamic movement, while TRIB3 studios operate on a three-zone training system: treadmills, resistance and intensity, coupled with live heart rate tracking.

UGG's Gym Warehouse concept is committed to giving fitness equipment a second life and contributing to a circular economy.