The value of investment in Stay Fit Gym is within the range of EUR5-10 million Morphosis Capital usually invests. The capital injection by the private equity fund will support Stay Fit Gym expansion in Bucharest and cities of Romania with over 100,000 inhabitants.
This is the third deal announced by Morphosis Capital in the past six months.
“Stay Fit Gym has managed to develop a sound business model. We’re delighted by the partnership with Morphosis Capital as it offers us the possibility to step up expansion nationwide by opening new fitness centers. We’re counting on the fact that Romania’s fitness market will double in the following years,” stated Alexandru Lascar, Stay Fit Gym CEO.
Founded in 2021 by three Romanian entrepreneurs, Stay Fit Gym currently operates seven centers in Bucharest.
In 2019, the company reported RON7.9 million turnover and in 2020 revenues dropped to RON7.1 million amid pandemic restrictions.
According to Morphosis Capital, Romania’s fitness market is worth EUR250 million. “We want Stay Fit Gym to go to those areas of cities where there is high need for such centers to be opened. I am confident we have, together, all the ingredients to expand nationwide by opening 25-30 fitness centers,” stated Andrei Gemeneanu, Managing Partner, Morphosis Capital.
The Stay Fit Gym investment is the sixth deal clinched by Morphosis Capital, which now owns stakes in DocProcess, Medima Health, Dr. Leahu Dental Clinics, EMI and Cronos Med.
(English version by Catalina Apostoiu)