Capital Partners is gladly announcing the completion of the management buyout of the leading local fitness operator, Word Class Romania.
Capital Partners has advised the management team to find the best suitable financial partner to acquire a controlling stake in the company from the Norwegian fund, NorgesInvestors. Until recently, the company was a subsidiary of World Class International, a fitness chain with presence in 9 countries and more than 60,000 members across Europe.
With the first club opened in 2001 in Marriott Grand Hotel with a clear scope to test the infant Romanian fitness market, in 2005 World Class Romania opened its second club in Bucharest Radisson Hotel, which became the starting point of a successful expansion to 11 clubs in 2013, which put the company in the forefront of, now a EUR 64 million, fitness market.
Mikael Fredholm, CEO World Class: “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 Resource Partners : “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.”
Vlad Busila, Managing Partner Capital Partners : “We are very pleased that we have managed to structure such a complex transaction considering the current market conditions. This transaction was made possible due to a great management team and the ambitious future plans and outlook of the company.”
Sabin Piso, M&A Director Capital Partners : “I enjoyed working with the WorldClass Management team on this project and I was impressed by the vast amount of experience of this team and excellent track record in adding value to this successful and solid business.
This MBO supports WorldClass Management’s vision of growing the company to a whole new level together with Resource Partners.”
World Class Romania – local leader of wellness sector, offers premium services for people passionate of sport and healthy living. World Class 11 clubs in 3 cities offer access to Gym, Aerobic, Cycling and Relaxation Area&SPA, providing its members the latest and most modern services on the market. World Class is exclusive partner of LES MILLSTM – the world largest provider of fitness concepts.
Resource Partners is one of the most active private equity investors in Central and Eastern Europe, specializing in growth financing of consumer goods and services companies operating within the region. Resource Partners manages funds provided by leading international financial institutions such as: Ardian, European Bank for Reconstruction and Development, European Investment Fund and Rabobank.
Capital Partners is Romania’s leading independent investment banking adviser, founded and owned by four Romanian ex- bankers: Doru Lionachescu, Andrei Diaconescu, Victor Capitanu and Vlad Busila. Since inception, Capital Partners advised on transactions amounting to more than EUR 1.8 billion successfully closed across its main business lines: M&A, Corporate Finance and Real Estate. Starting with 2013, Vlad Busila was named CEO of the Company.