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The North of England and Wales gym chain, Total Fitness, has announced the appointment of Tom Rayner as its new chief financial officer.
His appointment follows his recent success at the group as corporate development director and will take charge of the finance, IT, member account services team (MAST), compliance, and legal functions within the business.
Rayner’s key strengths lie in strategic and operations awareness, which will contribute to the group’s “ongoing success and growth”.
Prior to his appointment, he had a successful tenure within the organisation, working closely with CEO Sophie Lawler on shaping the future business strategy.
Under Rayner’s leadership, Total Fitness saw its membership grow by 10% in 2022 with the best January performance on record. With a 210% growth in EBITDA from FY19, member growth has positioned the business to deliver a further 58% in underlying EBITDA growth in FY24.
In his new role as CFO, his leadership has recently seen the successful refinancing of an existing loan facility for Total Fitness. To date, no PE-backed health club chain has successfully refinanced post-covid.
Rayner said: “In my seventh year with Total Fitness, I’m thrilled to be stepping into the role of CFO at such a pivotal time for the business. I relish the opportunity to deliver our ambitious growth plans with the support of our talented, purpose-driven team.
“The recent refinancing has set us up for success at a time when health and fitness is of paramount importance to the nation, and I’m looking forward to guiding the business through this exciting time.”
Keven Parker, managing partner at NorthEdge Capital, added: “Tom has been instrumental in Total Fitness’s sector-leading growth to date and fundamental in establishing firm foundations for their next phase of growth, supported by their new financing partner OakNorth Bank.
“Tom is an exceptional talent and an extremely versatile and strategic finance professional. We are delighted with his appointment to CFO and excited as we back the team to turn the page on the next chapter for Total Fitness.”
