Stay Fit Gym, the second largest chain of gyms in Romania, after the number of open centers, announces the full takeover of Neby Fitness, a center in the Domenii market area of Bucharest. This is the first M&A transaction made by Stay Fit Gym after the private equity fund, Morphosis Capital, became a shareholder in the company in December 2021.
“Our common goal with Morphosis Capital is for Stay Fit Gym to develop at an accelerated pace by opening new fitness centers both in Bucharest and in other cities in Romania. Taking over Neby Fitness is part of our expansion plan in the capital city, in areas where there is a need for modern fitness centers equipped with premium equipment and excellent training conditions. The chosen location is a traditional one, with an activity of over 15 years with high potential to attract new customers in the area. With the completion of this transaction, we will invest approximately 0.75 million lei in the complete renovation of the center to be in line with the other Stay Fit Gym locations. During the period when the location will be closed for modernization works, the existing customers of Neby Fitness will have their subscriptions suspended and will be able to access any other Stay Fit Gym center for free,” stated Alexandru Lascăr, CEO of Stay Fit Gym.
The new fitness center acquired by the company is the eighth location of Stay Fit Gym and will be fully integrated into the company’s network. At the same time, the trainers and administrative staff of the center will also become part of the Stay Fit Gym team. Existing customer subscriptions will be automatically transferred to Stay Fit Gym and be valid at all network fitness centers. The Domenii fitness center will offer clients a space of 800 square meters where cycling, group classes, and classic fitness services will be organized.
In March of this year, the company will inaugurate its ninth location in the Colosseum Mall. This fitness center will be the largest in the Stay Fit Gym network, with a total area of over 1,600 square meters. The investment in the arrangement and opening of this space was about 3 million lei.
For 2021, Stay Fit Gym estimates a turnover of approximately 10 million lei. For the current year, it envisages revenues of over 15 million lei amid an increase in the population’s appetite for adopting a healthy lifestyle by maintaining a good physical and mental condition. Also, this year, with the support of the capital from Morphosis Capital, the company plans to inaugurate up to ten own fitness centers in Bucharest and cities with over 100,000 inhabitants.
Founded in 2012 by three Romanian entrepreneurs – Alexandru Lascăr (CEO), Marius Preodișteanu (Head of Expansion) and Laurențiu Lascăr (Operational Director) Stay Fit Gym currently has a team of approximately 200 employees and collaborators. The company operates eight centers in Bucharest and offers a wide range of services to people who engage in physical activities, such as aerobics and functional training classes, personal trainer, and sauna. All eight fitness centers are equipped with state-of-the-art equipment.