énergie Group has concluded its crowdfunding round, finishing with a total of £629,300 from 283 investors via Crowdcube.
The closing figure represents 126 per cent of the original £500,000 target, with investors taking a total stake of 4.03 per cent equity in the company, against a valuation of £15m.
The money will be used to support the franchise gym chain’s growth ambitions, with capital to be invested in the franchisor's marketing and technology initiatives, as well as a new national training academy.
“We had an overwhelming response to our equity offer from across the énergie family and the wider fitness industry,” said énergie Group chair and CEO Jan Spaticchia.
“We’re delighted to welcome over 280 new owners of our brand, as we gear up for an exciting and important phase of growth in the months and years ahead.”
The fund was driven by a number of high-profile investors, chief among these being serial entrepreneur Lara Morgan, who bought a £100,000 stake in the business. Morgan, who founded toiletries distributor Pacific Direct before later selling her majority stake for £20m, is an avid triathlete with a passion for fitness.
Besides Morgan, énergie is understood to have attracted investment from a number of high profile leisure industry figures, including former ukactive CEO David Stalker. The high-profile industry endorsements came just weeks after it was announced that original énergie investor and leisure grandee Steve Philpott had joined the company’s board. Philpott and the rest of the énergie board, including Spaticchia, have all reinvested via the Crowdcube listing.
