Envestors pumping cash into gym chain

FINANCE house Envestors, which was spun out from Perth-based Braveheart last month, has led a £900,000 funding round for budget gym chain NRG.

The gym firm has opened a six-figure funding round. Stock picture: TSPL

Investors in the firm’s network are pumping in £420,000, with Royal Bank of Scotland offering a £110,000 loan backed by the UK government’s enterprise finance guarantee. The balance is coming through lease financing.

Envestors underwent a management buyout from Braveheart, which bought the London-based company in 2010.