The African Industries Group (AIG) holding, present in Romania through investments in agriculture, distribution of agricultural equipment and real estate, has acquired the fitness network World Class Romania from the Polish investment fund Resource Partners. Deloitte Romania assisted the transaction, which was signed in April 2022 and has been closed on July 15, after obtaining all the necessary approvals. The acquisition of the 41 fitness centers network represents AIG’s entry in the health and wellness segment.
“This is the second transaction in which we collaborate with Deloitte, after the one in which we acquired Agricom Borcea, Tudor 92, Concordia Agro and Alisa Farm Management farms, as well as Thames Farming Enterprises, the company that owns the four farms. This time, the project has been carried out in two phases, both involving due diligence requirements and negotiation, and Deloitte’s international team has been with us during the entire process, fully involved, showing flexibility in the way it has responded to the many changes that have occurred during an eight-month collaboration. I particularly appreciated the commercial competence of Deloitte’s team and the professionalism of its financial analysis,” said Alexandru Rusu, CFO CEE, African Industries Group.
“I believe that the success of this transaction was ensured by the extraordinary collaboration with both the management team of AIG and the other consultants. We are honored that we managed to assist our client during the few months that the project lasted, through an international team, formed by experts from Romania and Germany. This transaction represents AIG’s entry into a new market and a new step towards strengthening its position,” said Radu Dumitrescu, Financial Advisory Partner-in-Charge, Deloitte Romania.