MyInvest Estonia buys Bauhofi and MyFitnessi (Äripäev)
MyInvest Estonia OÜ, which was established by the current and former directors and advisors of Bauhof and MyFitness, will buy all the shares of Bauhof Group AS and My Fitness AS from Stockholm’s private equity fund Askembla Growth Fund. The transaction is funded by SEB Estonia. The buyer’s side of the transaction was advised by the law firm Rask, and the seller was advised by Redgate Capital and the law firm Tark Grunte Sutkiene.
Bauhof’s store chain sells construction, decoration, gardening and home goods in 12 stores in Estonia. It employes nearly 400 people, and net sales amounted to 98 million euros in 2012.
My Fitness AS is a leading sports club chain with 8 clubs and more than 11,000 active members in Estonia. In the nearest future two more clubs will be opened – in Lasnamäe and Solaris centre. The revenue has been increasing on the average of 31% per year since 2009.
Original article can be found here.