Hungarian VC and private equity firm PortfoLion Capital Partners has acquired a minority stake in 4FIZJO, an eminent e-commerce player in Poland’s fitness and physiotherapy market. This transaction aims to support 4FIZJO’s international growth in the region for sports and leisure products. The company shared the details with AIN via a press release.

About 4FIZJO

  • 4FIZJO was founded in 2017 by former physiotherapists Mateusz Oniśk and Adam Grybalow. 4FIZJO is an e-commerce platform and producer of fitness/medical devices that started as a garage startup.

  • The company is operating across six European markets, including its original market Poland, Ukraine and Slovakia, and soon to enter Romania, Bulgarian, and Hungary. 4FIZJO’s diverse product range splits 60% fitness and 40% medical purpose.

  • The company focuses on its own-branded products. Its Mountain Goat and Tsunami brands, catering to outdoor enthusiasts and water sports fans, respectively, reflect this strategy.

PortfoLion’s team has amassed experience building regional e-commerce success stories like Szallas Group, later acquired by Wirtualna Polska, and lately by supporting Pepita Group's international expansion.

Acquisition details 

The minority stake buyer is PortfoLion Capital Partners, a Budapest-based venture capital and private equity arm of OTP Bank. The company is present in the CEE region, investing actively in small and medium enterprises of various industries.

  • The transaction, which will see PortfoLion acquire a 40% minority stake in 4FIZJO, is pending approval from the Polish Office of Competition and Consumer Protection and is expected to be closed in the coming months. 

  • The amount of the deal was not disclosed.

“We are thrilled to partner with 4FIZJO, a company with exceptional growth potential and a commitment to delivering quality. This investment reflects our confidence in the growing physiotherapy/sports market and the company's ability to deliver exceptional value to its customers. This partnership reflects our strategy supporting the growth of e-commerce businesses in Central and Eastern Europe,” told Zsolt Mihály, Principal at PortfoLion Capital Partners. 

  • Financial and legal advisory for the deal included Vienna Capital Partners and Schoenherr for the sellers, EY and Deloitte Legal for the buyers, while Arthur D. Little led the commercial due diligence process.

With PortfoLion joining the shareholders, 4FIZJO plans to enhance its market presence in Romania, Hungary, and Bulgaria while laying the groundwork for growth into the Baltics by 2026. In the coming years, operational optimisation and faster logistics are vital in developing multi-country online retail providers.