Fitness industry veterans Allan and Jonathan Fisher have completed a Series A capital investment deal in boutique fitness brand TRIBE3, which has seen them acquire a controlling stake in the business.
Allan Fisher is the founder of premium health club operator Holmes Place, which he continues to be involved in today. Together with his son Jonathan, the pair also operate the low-cost brand ICON.
The Fishers' activities in the fitness sector span a period of more than 40 years and include the recent rollout of EVO – a boutique convenience gym offering – in central Europe.
Following the deal, the Fishers will join TRIB3's board of directors, with Jonathan taking up the position as chair of the board.
TRIB3 co-founder Kevin Yates will continue in his role as CEO.
The investment will be used to further expand TRIB3, which recently opened its ninth club in the Spanish capital Madrid – its third in Spain. It also has two studios in the UK, two in Finland and single sites in Russia and China.
“TRIB3 is arguably offering one of the most exciting and motivational workout experiences in the booming boutique segment of the market," said Allan Fisher.
"We are hopeful that our connections and experience in the sector will help TRIB3 to achieve its aspirations of becoming a global community.”
Kevin Yates, TRIB3 CEO, added: “The communities we are building around TRIB3 are sensational.
"It's exciting to now have this funding in place – and even more valuable to have industry experts such as the Fisher family joining TRIB3."
TRIB3 plans to add three new sites to its portfolio during 2019.
