RO gym chain acquires Bucharest center, prepares to open ninth location
Stay Fit Gym, where private equity fund Morphosis Capital became a shareholder in December 2021, has taken over Neby Fitness, a center in the Domenii area of Bucharest.
The fitness center acquired by the company is the eighth location of Stay Fit Gym and will be fully integrated into the company's network. 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 will be valid at all network fitness centers. The Domenii fitness center will offer an area of 800 sqm.
This month, the company is to inaugurate its ninth location in the Colosseum Mall, in northern Bucharest. This fitness center will be the largest in the Stay Fit Gym network, with a total area of over 1,600 sqm. The investment in the arrangement and opening of this space amounted to RON 3 million (EUR 600,000), the company said.
For 2021, Stay Fit Gym estimates a turnover of approximately RON 10 million (EUR 2 million). For the current year, it envisages revenues of over RON 15 million "amid an increase in the population's appetite for adopting a healthy lifestyle."
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.
"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 RON 0.75 million in the complete renovation of the center to be in line with the other Stay Fit Gym locations," Alexandru Lascăr, CEO of Stay Fit Gym, said.
Stay Fit Gym was founded in 2012 by three Romanian entrepreneurs - Alexandru Lascăr (CEO), Marius Preodișteanu (Head of Expansion) and Laurențiu Lascăr (Operational Director). It currently has a team of approximately 200 employees and collaborators, and operates eight centers in Bucharest.
(Photo courtesy of the company)