Urban Fitness

Mozaik Investments is building Urban Fitness, a national network of low-cost gyms based on the high value, low price (HVLP) model. The platform started with the acquisition of the No1 Fitness network in Bucharest and continues with City Gym, a five-club operator in Bacău, Focșani and Roman. This is our first investment in the fitness sector.

Accessible Fitness at Scale

Urban Fitness gives members a quality gym close to home at an affordable price. Clubs range from 700 to 1,500 square meters and follow one standard format. The operating model runs on digitalization and automation: members enter with the mobile app, use contactless systems and manage their membership digitally. This keeps costs low and the experience consistent across every location.

Why Fitness, Why Now

Fitness penetration in the European Union is 15-20%. In Romania it is about 5%. The gap creates a large opportunity for a model built on accessibility, proximity and technology. The market is fragmented, with many small independent operators, which makes it a strong fit for a buy-and-build strategy.

What Comes Next

The initial investment in the Urban Fitness platform is EUR 8 million. Together with the management team, we aim to:

• Reach around 25 clubs by the end of 2026, 40-50 by the end of 2027 and about 100 clubs nationwide within five to six years
• Grow through a combination of acquisitions and new openings, doubling the network every year
• Expand from Bucharest to Bacău, Focșani, Roman, Timișoara and Constanța, and then to cities such as Oradea, Buzău and Brașov

A New Chapter for Mozaik

Urban Fitness fits our focus on consumer services businesses with strong unit economics and a clear path to scale. Our goal is to build one of the leading national fitness players in Romania.

We're excited to build it together.

Read more here.

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