Verod completed the acquisition of a 65% stake in i-Fitness from CardinalStone.

Verod, an investment management firm, completed the acquisition of a 65% stake in i-Fitness, a fitness chain, from CardinalStone, a West Africa-focused private equity firm. Financial terms were not disclosed. "Verod is highly enthusiastic about its collaboration with i-Fitness, which will contribute further to the growth and expansion of its value-for-money gym chain in West Africa. Recognising i-Fitness' capable management team, resilient business model and attractive value proposition, Verod is also drawn to the growing consumer emphasis on health and wellness, and the rising population in urbanised Africa. This investment aligns with Verod's commitment to supporting long-term trends with positive social impact and regional economic growth," Daniel Adeoye, Verod Partner.