Stay Fit Gym, the second largest chain of gyms in Romania, after the number of open centers, together with Morphosis Capital, announces the formation of an Advisory Board composed of three top executives in the Romanian business environment – Vlad Ardeleanu, CEO at Medima Health, Iulian Cîrciumaru, Managing Partner of V7 Capital and Mikael Fredholm, former CEO of World Class Romania.
“In the long run, we aim to become a benchmark for the Romanian population in adopting a healthy lifestyle. We want to become the first option for Romanians to do sports by offering the best fitness services at excellent prices. Therefore, together with my partners and Morphosis Capital, we decided to form an Advisory Board to bring people with extraordinary experience in the field of fitness and rapid expansion on which we can rely on the company’s accelerated growth at the national level. We thank Vlad, Iulian, and Mikael for joining us, and we look forward to inaugurating together new Stay Fit Gym fitness centers,” stated Alexandru Lascăr, CEO of Stay Fit Gym.
Vlad Ardeleanu is an executive with over 20 years of experience, currently the CEO of Medima Health, a medical operator specialized in medical imaging and radiology. During his professional career, Vlad Ardeleanu held the position of Deputy General Manager of the Artima retail chain and led Carrefour’s operations in Romania. Before joining Medima Health in 2020, where he is also a co-shareholder, he was the CEO of Superbet, a company he has transformed from a family business with a local presence into an international technology-oriented corporation. Vlad Ardeleanu is also the President of the Romanian Chess Federation.
Iulian Cîrciumaru is an entrepreneur, Managing Partner of V7 Capital, a start-up studio focused on investing in start-ups and small businesses with high development potential. He is also the co-founder of Benefit Seven (7card), a platform taken over entirely by Sodexo in 2018, which offers simultaneous access subscriptions to multiple fitness and wellness centers. Currently, Iulian is the Chairman of the Board of Directors of Holde Agri Invest and a member of the Board of Directors of 2Performant. Before becoming an entrepreneur, Iulian was a business consultant at Kearney and PwC Romania.
Mikael Fredholm is a wellness entrepreneur, founder, and CEO of 121tribe since 2017, a global wellness platform that provides access to renowned health and nutrition experts for those who want to have a healthy and sustainable lifestyle. Before founding 121tribe, Mikael Fredholm has held various leadership positions since 2004 in the World Class fitness network. In 2014, he became a shareholder of World Class Romania with the company’s takeover by Resource Partners. In April 2022, the Polish investment fund and Mikael Fredholm left the World Class Romania shareholding structure following the network takeover by the African Industries Group.
“At the end of 2021, when our partnership with Stay Fit Gym began, we developed an action plan for 2022 regarding opening fitness centers in Bucharest and at the national level. We are pleased with the evolution of the development plan so far, considering that at the beginning of this year, the company had seven fitness centers open in Bucharest and currently owns 12 centers in Bucharest and Pitești. The formation of an Advisory Board represents a new stage in the company’s expansion. The business knowledge of the three executives who joined the Stay Fit Gym team will be reflected in transforming the chain into a significant player in the Romanian fitness market,” said Andrei Gemeneanu, Managing Partner, Morphosis Capital.
In December 2021, Morphosis Capital announced the investment in Stay Fit Gym, the sixth transaction of the private equity fund after the investments made in DocProcess, Medima Health, Dr. Leahu, EMI, and Cronos Med.
About Stay Fit Gym
Stay Fit Gym, founded in 2012 by three Romanian entrepreneurs – Alexandru Lascăr (CEO), Marius Preodișteanu (Head of Expansion), and Laurențiu Lascăr (Operational Director), is currently the second-largest fitness chain in Romania, by the number of open centers. The company operates 12 centers in Bucharest and Pitesti. It 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 12 fitness centers are equipped with state-of-the-art equipment. The 12 Stay Fit Gym centers are Colosseum, Domenii, Pipera, Liberty, Cocor, Vitan, Titulescu, Teiul Doamnei, Pantelimon, Fizicienilor, Pitești Trivale, Pitești Gavana.
About Morphosis Capital
Morphosis Capital is a private equity fund with 50 million euro committed capital. Established in December 2018 by four Romanian entrepreneurs, Simona Gemeneanu, Gabriela Dumitru, Dragos Petre, and Andrei Gemeneanu, the Fund aims to contribute to the development and transformation of the Romanian SMEs. The European Investment Fund (EIF), the leading financing platform for European SMEs, co-financed through the Regional Operational Programme, is the anchor investor in Morphosis Capital, while the founders themselves are the co-investors in the fund. Morphosis Capital invests between five to ten million euro in high growth Romanian companies from sectors such as FMCG, niche healthcare, technology, and B2B services, which have a strong potential for international expansion and an EBITDA of a minimum of half a million euro. Morphosis Capital portfolio includes DocProcess, Medima Health, Dr Leahu Dental Clinics, EMI, Cronos Med and Stay Fit Gym.