Property tycoon Nick Candy seeks to up his stake in trendy London gym chain 1Rebel
Property tycoon Nick Candy has bumped up his stake in a trendy chain of London gyms.
The 46-year-old already owned 10 per cent of 1Rebel but has bought more in a deal valuing the firm at £20million.
Candy snapped up the chunk of shares from Growthdeck, a platform which allows those with a minimum £5,000 investment to access private equity-style deals in unlisted companies.
Property tycoon Nick Candy (pictured with his wife Australian actor, singer and model Holly Valance) already owns 10 per cent of 1Rebel but reportedly wants to buy another 8 per cent
Growthdeck’s clients initially bought into the gym chain for 10p per share, before its first site was built.
Those who have sold out to Candy have made back three times their money, although some have retained a stake.
The property developer was believed to have spent around £1.8million on the shares.
1Rebel was launched in 2015 by James Balfour, whose father Mike founded Fitness First.
It offers pay-as-you-go, nightclub-esque exercise classes at sites in London.
Last year the firm’s revenues rose from £4million to £5.7million, accounts show.
However, it slipped from a £47,000 profit to a £1.1million loss.