Tamweel… scores a perfect Ten!
(From left to right: Justin Rogers, Joanne Mathews, Adam Spencer, Ben Merrifield, Ali Aneizi)
Tamweel is pleased to announce its latest deal, a multi-million pound growth capital raise for Ten Health & Fitness, London’s leading provider of Dynamic Reformer Pilates, Physiotherapy and Sports Massage treatments.
The business has been backed by Foresight and was established in 2007 by Joanne Mathews. After suffering from injuries sustained in a car accident, Joanne spotted a gap in the market for a wellness experience that combined fitness with rehabilitation. Ten’s first studio opened in Notting Hill and the business has since grown into an estate of 8 London sites; including Mayfair, Fitzrovia, St Jame’s, Little Venice, Chiswick, Hatton Garden and Spitalfields.
Ten is a growing wellness brand that is underpinned by a collection of expert, upbeat and people driven teams. These include Trainers, Physios, Massage Therapists and Exercise Physiologists. All providing a joined up and complementary mix of services that Ten calls its “Circle of Care”. More recently the business has built upon its reputation amongst surgeons, consultants and private hospitals to launch TenClinical – a specialised form of personal training for people living with life altering conditions such as heart disease, cancer and diabetes; a category of consumer that is often overlooked by the mainstream fitness industry.
The investment from Foresight will be used to support growth and roll out of the Ten brand to new locations across Central and Greater London.
Tamweel advised the shareholders, prepared the business for a fundraising process, introduced investors, negotiated terms and managed all aspects of the deal through to completion.
Joanne Mathews, Ten Founder, referring to Tamweel said: “Working with Tamweel, on our first ever raise, was absolutely the right decision. Ali, Ben and Adam provided insight, support and expert advice exactly, through the process – exactly when we needed it. They were level headed and great energy to work with which was important for us. Highly recommend them.”
David Turner, Foresight, commenting on the deal: “We’re excited by the opportunity to partner with Joanne and the wider team to support their growth ambitions. Ten has a unique proposition in the wellbeing and clinical fitness markets and this is an exciting time in their journey.”
Ali Aneizi, from Tamweel, added: “Jo and her team are a passionate and visionary bunch. They’re on a mission to build a business of scale; but also want to give something back. And with one foot planted in the world of fitness and the other in corrective, physio led and clinical exercise Ten is in a great position to do that.”