We invested in the Romanian fitness sector
In a management buyout we acquired a controlling stake in World Class Romania. This transaction marks our first investment in Romania.
World Class, which opened the first club in Bucharest in 2000, is the leading fitness chain in Romania. Since then, the Company organically expanded its network to 11 clubs in three Romanian cities. The company regularly cooperates with well-known international fitness trainers and program creators to provide its members with the latest, most effective fitness programs. World Class Romania plans to continue the expansion of its network to offer its members a greater choice of fitness locations and the best training experience.
Mikael Fredholm, CEO of World Class, said: “We are delighted to cooperate with Resource Partners, as we see a 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 we will do all we can to provide services of the highest quality."
Dan Farcasanu, Investment Director of Resource Partners, said: “We are thrilled to cooperate with a strong management team while acquiring the leading fitness chain in Romania. We believe in the company’s growth and the consolidation potential in Romania. This is our first project in Romania andit is very much in line with our strategy of investing in consumer products' companies in Central Europewith strong management teams.”
“At World Class, every workout has one thing in common: it´s not just fitness, it´s the life style. World Class has a positive impactin every areaof life and ensures excellent well-being. Our focus is 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 our members. We understand those clients who join us for a single goal or thanks to a whim, as well as those who want to stay with us for good. We are ready to meet their needs," said Johan Lundström, Managing Director ofWorld Class in Sweden.
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.