Qatar focuses on fitness machines from the Italian Reaxing
A consortium led by Qatar Legacy Investments enters the capital of Reaxing, the functional fitness company, with a 40% stake
Qatar Legacy Investments has acquired 40% of Reaxing spa, a company that operates in the field of functional training equipment and produces neuroactive training machinery. The company has nine international patents and since 2016, the year in which it was founded by Gionata D'Alesio , fitness guru, former basketball player and former CEO and founder of Queenax, and by Roberto Frassinelli, with approximately 2.5 million euros of equity capital, the company has already achieved considerable market validation, with a cumulative turnover of approximately 24 million euros.
WHAT DOES REAXING SPA DO?
Reaxing has top-level clients among the most important sports clubs, in Italy and around the world, we are talking about Ferrari, Milan, Juve, Paris Saint-Germain and Liverpool. The company has also collaborated with Olympic committees (China, for example) and sports federations ranging from volleyball to rugby, High Performance Training centers such as the Med-Ex Ferrari in Maranello or the Mouratoglou Tennis Academy on the French Riviera, institutes of physiotherapy and rehabilitation spread from New York to Dubai, as well as famous international health club chains such as Virgin Active and Sports World. Reaxing's headquarters are in Ascoli Piceno, but the company also has offices in Milan, Simi Valley, California and Ancarano (Te).
WHO IS PART OF THE CONsortium that acquired 40% of REAXING SPA
The Qatari fund, as lead investor, has signed an agreement with the Marche company which guarantees a capital increase of five million euros and doubles its assets. The fund of Nasser Al-Khelaïfi , owner of Qatar Legacy Investments , and also president of the Qatar Investment Sovereign Fund, Paris Saint Germain , the Premier Padel Association and the European Club Association, acquired 18.7% of Reaxing but not it's just in this investment. Together with him are Paul McGrath, the founder of Pitch International, with 11%, and Aser Media Italia srl, which belongs to Andrea Radrizzani's Aser Media Limited (in the photo), with 4.29%. In total, therefore, the new consortium acquires a 40% share of Reaxing spa.
REAXING SPA NUMBERS
Here are the company's numbers in 2022: 5.7 million in revenues, a negative ebitda of 172 thousand euros, net debts of 5.4 million, compared to a net worth of 4.6 million.
AN INVESTMENT OF MORE THAN 4 MILLION EUROS
The total investment should exceed 4 million euros and has the aim of supporting the company's growth in the sports market, which it already operates, and increasing its share in the medical market, especially in the neurorehabilitation segment. “We are proud of the fact that, among the best companies in the world in our sector, such prestigious partners have chosen us to support us in a global expansion project that puts the result of our research at the service of as many people as possible – said Romolo Angellotti, CEO of Reaxing -. We have created a line of technologically advanced products with a pure Italian style design, appreciated by the best sports teams, elite athletes and the many people who make physical activity a reason for well-being, for a longer and healthier life ”.
HOW THE ORGANIZATION CHART OF REAXING SPA CHANGES
The entry of the new partners increases the number of members of the board of directors from three to five, Mohamad Yaman, representing the Qatari fund, and the president of Sampdoria Radrizzani (in the photo) join the board of directors. However, the organizational chart of the board of auditors does not change, with Federico Albini (president), Giuseppe Livigni and Giuseppe Tosto.
THE FUTURE OF REAXING SPA
As the company writes in the press release detailing the entry of new members into the future Reaxing, "it will aim to further specialize in the world of High Performance sport and to strengthen the medical sector, in particular the world of cognitive and motor neurorehabilitation". The idea is to design new specific equipment for the Longevity, Silver Age Economy and therefore active aging segments, with protocols that will increasingly characterize the Reaxing training devices as real time machines.
“In the coming years, Reaxing will increasingly be a company oriented towards the world of rehabilitation, medical and longevity, sectors where solid scientific foundations are needed and where investments in research and development will be huge – concluded Roberto Frassinelli, Vice President of Reaxing . Our technological devices, already awarded internationally, have all the credentials and the evidence of the results encourages us to continue on this path. The arrival of the new partners will accelerate the path towards what is the challenge of the future and is the largest and most undisputed demand on the market… Because less than 10% of the population trains, but 100% age!".
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/legacy-investments-reaxing/ on Thu, 23 Nov 2023 15:17:21 +0000.