Luxembourg, December 17th, 2017
The European Investment Bank (EIB) will provide financing of up to EUR 25m to eGym GmbH, an innovative developer and manufacturer of fitness technology. The transaction will support eGym ́s current investment programme and will help cover research, development and engineering costs, capital expenditures for the expansion of the assembly and production facility, and the permanent increase of net working capital to support market expansion. The financing was made possible by the support of the European Fund for Strategic Investments (EFSI). EFSI is the central pillar of the Investment Plan for Europe, under which the EIB Group and the European Commission aim to act as strategic partners to boost the competitiveness of the European economy.
Ambroise Fayolle, Vice-President of the EIB responsible for Germany, commented: “eGym, which was founded just seven years ago, is a very fast growing company. Supporting young and innovative businesses on their way into growth is one of the priorities of the EU bank, because these companies create the employment for the future.” And he added: “eGym provides an open cloud platform, connecting machines produced by third parties in order to facilitate the best fitness training and monitoring possible. This is cutting-edge technology to create complete fitness ecosystems, which will help improve European citizens’ access to the best available wellbeing and health equipment.”
eGym CEO Philipp Roesch-Schlanderer: „We feel very honored to receive the EIB funding. From day one it has been eGym’s vision to make the gym work for everyone and provide users with the best training experience possible. Today we see that prevention and improving personal levels of fitness, are becoming more and more important for large audiences. eGym offers software-based, intelligent training solutions in order to keep gym members highly motivated.”
About the EIB
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
eGym develops the latest concepts for the organisation of the training floors in fitness facilities and health-based institutions, like physiotherapy practices. eGym provides the full product range for the digital value creation: “Intelligent” fully electronic power machines in combination with the eGym Trainer and Fitness Apps. With eGym ONE, eGym offers a rapidly increasing open cloud platform to connect all major fitness manufacturers, and enables its vision of the connected gym to come to life.
About the Investment Plan for Europe
The Investment Plan for Europe, the Juncker Plan, is one of the EU ́s top priorities to boost investments and to create jobs and growth by making smarter use of existing and new financial resources. The EIB Group is playing a vital role in this investment drive. Through guarantees from the European Fund for Strategic Investments (EFSI), the EIB and the EIF are able to take on a higher share of project risk, encouraging private finance providers to participate in the projects. In addition, EFSI is accompanied by a new advisory service, the European Investment Advisory Hub, which enables public and private project operators to structure their investment projects more professionally. The investment offensive also aims to make the regulatory environment in the EU more conducive to investment, especially in the digital, energy and capital market sectors. The European Parliament and Member States have agreed in December 2017 to extend EFSI’s duration and increase its financial capacity.
Christof Roche, email@example.com, tel.: +352 43 79 89013, mobile: +32 479 65 05 88
Website: www.eib.org/press – Press Office: +352 4379 21000 – firstname.lastname@example.org
Dr. Hans Juergen Croissant, email@example.com, tel. +49 89 921 31 05-19
Website : www.egym.com/en/business/