World Class Romania increases its commitment to the Romanian fitness sector
Our portfolio company, World Class Romania, entered into a binding agreement to acquire the fitness chain operator Club Sport Fitness Center MV S.R.L.
World Class is the leading fitness operator network in Romania. Itintroduced the concept of modern fitness clubs in 2000, when it openedits first location in Bucharest. Since then, the Company has expanded its network to 11 clubs in three 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 expanding its network to offer members a greater choice of fitness locations.
Club Sport Fitness Center MV SRL is a privately-owned fitness operator currently managing nine fitness centers in Bucharest and the main Romanian cities.
Mikael Fredholm, CEO of World Class, said: "We are thrilled as this acquisition will allow us to offer more locations with the highest standard of fitness services and even further improve the quality of our services."
Dan Farcasanu, Investment Director at Resource Partners, said: "The transaction will transform World Class Romania into the undisputed leader of fitness services with a network of 28 clubs in Romania and two in Serbia. This shows our commitment to create partnership with strong management teams and to support them in growing organically and through M&A to create industry champions in strategic sectors."
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.