A team of lawyers from Stratulat Albulescu Attorneys At Law assisted the leading fitness services provider in Romania, World Class Romania S.A., in acquiring one of its competitors, Club Sport Fitness Center MV S.R.L. The acquisition was completed on March 24th, 2016.
World Class Romania S.A., currently held by the Polish private equity investment fund Resource Partners, has been operating in the Romanian market since 2000 having currently a network of 19 fitness centres in Bucharest, Timisoara and Cluj-Napoca, registering a revenue of EUR 9.6 mil. in 2014.
Club Sport Fitness Center MV S.R.L., a major sport and fitness network with several branches in Romania operates a franchise of 9 fitness centres in Bucharest, as well as in other main cities in Romania under the brand names: Club Moving and Moving Express.
In the acquisition process, Stratulat Albulescu Attorneys at Law was involved in all the aspects of the transaction, including the negotiation of the term sheet, preparation of the due diligence report and drafting of the transaction documents as well as assistance in the negotiation process and completion of the transaction. The team of lawyers from Stratulat Albulescu Attorneys At Law was also involved in the financing component of the transaction, comprising in the review and negotiation of the financing documentation put in place by two major credit institutions established in Romania.
The Stratulat Albulescu Attorneys at Law team was led by Silviu Stratulat and Alexandra Radu, Partners and coordinators of the Corporate and M&A department, alongside other members including Andrei Albulescu – Partner, Cristina Man – Senior Associate, Ana Chira, Andrei Balus and Cristiana Ditoiu – Associates.
Ijdelea Law Firm was legal adviser to the Seller, Thomas Richard Pierre.
Stratulat Albulescu Attorneys at Law is a young and dynamic Romanian law firm, providing legal advice in all business sectors and in all areas of Business Law and Dispute Resolution in Romania. The Stratulat Albulescu Attorneys at Law team is comprised of lawyers who are leaders in their disciplines. The firm works in close co-operation with highly-respected law firms throughout Europe and elsewhere and has significant experience in cross-border transactions, with its lawyers providing legal advice in the English, French, Italian, Romanian and Spanish languages.