Bucharest, March 6, 2026 — Enterprise Investors Fund IX will invest up to EUR 20.4 million in 18GYM, one of Romania’s leading fitness chains, acquiring a significant minority stake. The transaction is subject to antimonopoly approval.
- EI is partnering with the company’s founder, who will remain the majority shareholder and continue to lead the business.
- The transaction is expected to support the next phase of 18GYM growth, including an accelerated rollout of new locations and selective M&A opportunities.
Founded in 2012 by Vlad Ronea and his sister Alexandra Ronea, 18GYM is one of the leading fitness chains in Romania. The company has grown rapidly, driven by new club openings and strong member inflows.
18GYM operates 37 clubs with an average location size of approximately 1,500 square meters – reflecting the company’s focus on spacious, modern facilities. Each club includes dedicated zones for cardio, functional training, strength machines and free weights. The high-quality training space combined with affordable pricing supports strong unit economics per square meter while maintaining an excellent customer experience. This operational strength is reflected in the company’s performance: in 2025, membership grew by 40% and revenue exceeded EUR 17 million.
“Romania’s fitness market still has relatively low gym participation and remains highly fragmented, creating strong opportunities for growth and consolidation. We believe 18GYM’s proven, scalable operating model positions the company to expand its market share both organically and through targeted acquisitions,” said Bartosz Kwiatkowski, partner at Enterprise Investors and transaction lead. “Demand is shifting toward spacious, well-equipped clubs delivering a strong training experience at competitive prices, and 18GYM is well positioned to meet these expectations at scale.”
“From day one, our ambition has been to build Romania’s most accessible, high-quality gym network and become the country’s leading player,” said Vlad Ronea, founder and CEO of 18GYM. “We’ve proven that our format resonates strongly with members, and this partnership gives us the resources to accelerate expansion, raise the bar on customer experience and lead the next phase of market consolidation through scale and disciplined execution. Ultimately, our goal is to become the favorite destination for anyone who wants to move and care for their overall wellbeing.
18GYM is Enterprise Investors’ eighth direct investment in Romania, where the firm has maintained a continuous presence since 2000. Including this investment, the total capital invested by EI in Romanian businesses amounts to EUR 217 million.
Enterprise Investors is one of the largest private equity players in Central and Eastern Europe. Active since 1990, the firm has raised ten funds. These funds have invested and committed EUR 2.4 billion in 162 companies, completing 142 exits to date.
For further information, please contact:
Anna Czywczyńska, Communications & Public Affairs Director
tel. +48 22 458 8500
www.ei.com.pl