Home UAE Abu Dhabi GymNation buyout: original founders take back control The ownership of UAE fitness brand, GymNation, has changed hands back to its founders following the conclusion of a buyout deal. by Gulf Business November 21, 2023 UAE fitness brand, GymNation, is back under the ownership of its original founders following the conclusion of a buyout deal. Founders Loren Holland, Frank Afeaki and Anthony Martland have become majority shareholders in the company again after securing a buyout of all equity held by previous investor, JD Gyms. Under the ownership of JD Gyms; Holland, Afeaki and Marland were part of the management team of the company. The new buyout deal is backed by Tricap Investments and Ruya Partners, according to a statement released by GymNation. Tricap Investments is a diversified principal investment group specialising in the execution of both direct and fund investments, and private equity transactions. Ruya Partners is an independent private credit firm based in Abu Dhabi. GymNation opened its first location in 2018. Since then, it has grown to 12 gyms, with over 60,000 members.