Norton Rose Fulbright advises Benefit Systems S.A. on a new PLN 1,775 billion financing

Global law firm Norton Rose Fulbright advised Benefit Systems S.A. on a new PLN 1,775 billion (EUR 414.37 million) financing granted by Santander Bank Polska S.A. and Bank Gospodarstwa Krajowego.

The financing will be used for the acquisition of 100% of the shares in Mars Spor Kulübü ve Tesisleri İşletmeciliği A.Ş. (a leading operator of fitness clubs and sports facilities in Turkey) and may also be used for capital expenditures related to the organic growth of the company’s capital group, acquisitions, and general corporate purposes.

Norton Rose Fulbright previously advised Benefit Systems S.A. on securing PLN 205 million long-term financing from the European Bank for Reconstruction and Development and Santander Bank Polska S.A. in 2022. This financing has now been fully repaid as part of the company’s strategic refinancing efforts. Additionally, the firm advised Benefit Systems on securing a further PLN 300 million financing from Santander Bank Polska S.A., which forms part of the same refinancing strategy. Further information on these transactions is available here.

The Warsaw team was led by counsel Marta Kawecka and included associate Izabela Kręgiel and paralegal Antoni Krzyżanowski. The team worked under the supervision of partner Grzegorz Dyczkowski, who heads the Warsaw office and the firm’s Warsaw banking and finance practice.

To support the cross-border nature of the transaction, legal advice was provided by a multi-jurisdictional team of advisers. Norton Rose Fulbright’s Warsaw office led on Polish and English law aspects, with support from Pekin Bayar Mizrahi in Turkey, Kinstellar in Bulgaria, and Havel & Partners in the Czech Republic.

Marta Kawecka commented:

“We are proud to have once again supported Benefit Systems in a key stage of its growth strategy. Advising on this significant financing - following our work on the company’s previous facilities - reflects the strength of our long-standing relationship and our continued commitment to providing trusted legal support in complex, cross-border transactions.”

Benefit Systems Capital Group is a provider of solutions in the area of non-wage employee benefits with the flagship product MultiSport and the biggest fitness club operator in Poland. The company has been listed on the Main Floor of the Warsaw Stock Exchange since April 2011.

Mars Spor Kulübü ve Tesisleri İşletmeciliği A.Ş. is one of the leading fitness and sports facility operators in Turkey, known for its strong market presence and innovative approach to wellness and healthy living. The company manages a wide network of modern gyms and sports centers under the MAC (Mars Athletic Club) and MACFit brands, offering premium fitness services to thousands of members across the country. With a loyal customer base, experienced management team, and a dynamic growth strategy, Mars Spor plays a key role in shaping the fitness culture in Turkey - making it a highly strategic acquisition target aligned with the Issuer’s long-term expansion plans in the health and wellness sector.