Ultimate Performance, a Hong Kong-based international personal training gym chain, received a US$10m investment.
Cassia Investments, a consumer-focused private equity firm which specializes in investing in lower middle-market companies across Greater China and Southeast Asia, made the investment.
The company intends to use the funds to accelerate its global expansion strategy of its personal training gyms and supplements business, based on a targeted city-by-city approach.
Founded in 2009 by Nick Mitchell, an internationally body composition expert and personal trainer, Ultimate Performance is a network of personal training gyms. With operations currently in London, Hong Kong, Singapore, Manchester and Marbella, the company aims to expand in existing markets while extending its presence to major cities across Asia-Pacific, the Middle East and North America – including Tokyo, Seoul, Sydney, Dubai, Los Angeles and New York.