Verod Acquires 65% Stake in Nigeria's i-Fitness for $12 Million in Private Equity Shuffle 🇳🇬 🏋️‍♀️

Verod Acquires 65% Stake in Nigeria's i-Fitness for $12 Million in Private Equity Shuffle 🇳🇬 🏋️‍♀️

#business
#investments
Nigeria's fitness landscape undergoes a transformation as Verod, a West African private equity firm, secures a 65% stake in i-Fitness from CardinalStone for $12 million. The deal marks a significant evolution for i-Fitness, from its inception in 2015 to becoming a leading fitness chain with 26,000 subscribers across 21 locations in four cities.

West African private equity firm Verod has acquired a 65% stake in Nigeria's prominent fitness chain i-Fitness from CardinalStone in a $12 million deal. Since its founding in 2015, i-Fitness has grown from under 3,000 members to over 26,000 active subscribers across 21 locations. With Verod's investment, i-Fitness aims for regional expansion, facility renovations, and job creation, particularly for women. The acquisition reflects a shared vision for fostering a healthier and more active West Africa. 💼🌍 


#FitnessIndustry #PrivateEquity #BusinessExpansion


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