Civis Corporación increases its stake in O2 Centro Wellness
Civis Corporación, a Spain-based holding company interested in the fitness sector, has acquired a controlling stake in O2 Centro Wellness, S.L., a Spanish Group of Fitness Centres.
Civis purchased the business from Spanish private equity firm Mercapital, S.L. and Harmonia, for an undisclosed amount.
As per the terms of agreement, Civis Corporación acquired the 30% stake from Mercapital and some part of the stake from Harmonia. Post acquisition, Mercapital will exit its shareholding in O2 Centro and Civis Corporación will own 80% of O2 Centro. The remaining 20% will be owned by Harmonia.
In 2011, O2 Centro reported an annual turnover of €38.1m and an Ebitda of €6.5m. The company has restructured its debt by obtaining 2 years of absence and by enlarging the amortisation terms with the banks.