This is the Polish fund’s first investment in Romania. Dan Farcasanu, the first Romanian recruited by US giant investment fund Carlyle in 2008 and who also worked with Spain’s GED Capital fund, has run the Polish fund for three years from the position of investment manager. He did not answer ZF’s request for information by edition close.
Contacted by ZF, Mikael Fredholm, World Class’ chief executive officer, said public information on the sale of the chain would be released today, without providing data on the buyer.
According to Trade Registry data, World Class Romania still has as shareholders Swedish company World Class Seagull International (with 70.99%), Dumitru Iulian Velenza of Constanta (with 25%) and Maria Andreea Velenza (with 4%).
World Class, which opened the first fitness club of Romania in 1999, has now reached 11 such centers, of which nine in Bucharest, one in Timisoara and one in Cluj-Napoca.
The expansion brought a significant rise in revenue to 32.3 million lei (EUR7.2 million) in 2012, from just RON9.3 million (EUR2 million) in 2007. Profit also rose, reaching RON2.6 million (some EUR580,000) from net profit of RON709,000 (EUR167,000) in 2007.
World Class centers had 15,000 members in Romania in 2012, according to the latest data available.
Globally, World Class is present with fitness centers in 14 countries of Europe and the Middle East.
(English version by Catalina Apostoiu)