Our firm advised the Polish Fund along the entire path of this extensive and complex transaction, and in addition to the supplying legal advice, played an essential role in structuring the deal.
Managing Partner Silviu Stratulat said: "I am delighted SAA has been entrusted these instructions in relation to this high-profile sale, especially as the firm had advised the former owner in relation to the sale to Resource Partners. The transaction is significant to the Romanian market both by reference to its size but also as it entails the sale of the leader of an industry two facts which make us even more proud of having been part of it."
Partner Octav Stan added: "I am very honoured to have had the chance to advise this important project. The deal was extremely complex considering the sheer dimensions of the target company, as the forerunner of its sector.
World Class is Romania’s leading fitness chain, having introduced the concept of modern fitness clubs as early as 2000, when they opened their first club in Bucharest. Since then, the Company organically expanded its network to more than 40 health & fitness clubs throughout the country, currently having more than 65,000 members.
World Class provides its members with first class facilities, amenities and services, being a strategic partner of a number of known international fitness trainers and program creators, including LES MILLS™ (the largest fitness concept provider in the world).
Founded in 2009, Resource Partners is an independent Polish private equity investment fund. Resource Partners invests in fast-growing companies with experienced management staff, which support their practice of managing rapid organic growth, dynamic foreign expansion, and acquisitions. So far, the fund invested nearly 300 million Euro in the development of several medium-sized companies in Poland and other Central and Eastern European countries.
The Stratulat Albulescu team who advised Resource Partners was led by Managing Partner Silviu Stratulat and Partner Octav Stan, and also included Partner Cristian Vlaicu (Banking & Finance), Senior Associate Sandra Frunzulica (Corporate/M&A), Senior Associate Daiana Assoum (Real Estate) and Associate Amanda Csaki (Corporate/M&A), together with an extended team of approximately 15 lawyers involved in all stages of the transaction.
The management of World Class was advised by Partner Cristina Man (Corporate/M&A), and by Partner Andrei Albulescu (Employment) and Associate Roxana Ioncu (Corporate/M&A).