Intaj II invests in Fitness One Vega
Amman , December 30, 2013
Intaj Capital II has invested in the health and fitness sector through its equity participation in the Fitness House Company (Fitness One).
Intaj II is a private equity investment vehicle managed by Swicorp, a leading investment banking, private equity and asset management firm focused on the Mena region and Turkey.
Fitness One is a leading health and fitness club management company, which owns and operates fitness centres in Jordan, including six traditional women-dedicated fitness centers and a flagship ‘Vega’ center, which is a family-oriented facility, launched last year.
Over the next three years, the company plans to focus on the development of Fitness One Vega into a regional fitness platform with presence in the Middle East and Africa under three distinctive concepts: family-oriented destination centers, women-dedicated community centers and Mixed Martial Arts (MMA) centres.
Kazem Abu Ghazaleh, Fitness One’s founder and CEO, said: "We are delighted to welcome Swicorp onboard as a partner in our business, as we believe this partnership will strengthen our organisation and position Fitness One Vega to be a leader in the domestic and regional market.”
Andre Wagner, investment director at Swicorp, added: “We are excited to be joining the Fitness One Vega team today and believe that with its distinctive fitness offering, provides a compelling platform to capitalise on the growth opportunities in the industry.” - TradeArabia News Service