Resource Partners invests in Romanian fitness sector
Resource Partners has joined forces with the management team to acquire World Class Romania
Funds under management and advisory of Resource Partners have acquired a controlling stake in World Class Romania in a management buyout structure. This transaction marks the funds’ first investment in Romania.
World Class is the leading fitness chain in Romania, having introduced the concept of modern fitness clubs back in 2000, when opening the first location in Bucharest. Since then, the Company organically expanded its network to 11 clubs in 3 Romanian cities. The Company partners with well-known international fitness trainers and program creators to provide its members with the latest, most-engaging fitness programs. World Class Romania plans to continue the expansion of its network in order to offer its members a greater choice of fitness locations and best training experience for its members.
Mikael Fredholm, CEO of World Class, said: “We are delighted to participate together with Resource Partners in the acquisition of World Class Romania and we see great potential in the growth of the fitness market in Romania. Supported by our partner we will be able to further develop the network and create high quality fitness environment in our clubs.”
Dan Farcasanu, Investment Director of Resource Partners, said: “We are thrilled to partner with a very strong management team to acquire the leading fitness chain in Romania. We believe in the Company’s growth and consolidation potential in Romania, both in Bucharest and other cities. This first project in Romania is very much in line with Resource Partners’ strategy of investing in consumer oriented companies and supporting competent management teams in Central Europe.”
“At World Class, every workout has one thing in common: it´s not just fitness, it´s life. World Class inspires performance in every aspect of life and aims to be the temple of well-being. Our focus will now be to become the industry leader in the Nordic region with a strong brand presence, the best facilities, the best fitness experts and the best programs available to all our members. We are investing significantly in providing our members with the best fitness experience. We know that people join us for a reason, a season or a lifetime, so we are supporting every aspiration with unbeatable flexibility,” said Johan Lundström, Managing Director at World Class Sweden.
Resource Partners was advised by RTPR Allen&Overy and Ernst&Young. The Management Team was advised by Capital Partners and TSAA.
Resource Partners: Piotr Noceń, Dan Fărcăşanu, Adrian Stănculescu
In accordance with an earlier agreement, we bought additional shares from the minority shareholders and increased our stake in Golpasz S.A. from 67 per cent to 85 per cent. We have been an investor in Golpasz S.A. since December 2015.
Kent Orrgren, CEO at World Class, performed at the European Health and Fitness Forum in Cologne. The 5th annual event brought together top experts from different sectors of the industry and over 400 delegates from 34 countries to discuss human capital in the European fitness sector.