Pathlight Capital Provides $355 Million Facility to iFIT Health & Fitness
BOSTON, April 14, 2022 /PRNewswire/ — Pathlight Funds LP (“Pathlight”) declared it is serving as the Administrative Agent on the recently funded $355,000,000 Senior Secured Credit Facility for iFIT Overall health & Fitness Inc. (“iFIT” or the “Company”), a world wide chief in connected health and fitness and interactive information with its intensive portfolio of iFIT® and Sweat® streaming platforms, and its highly revolutionary equipment manufacturers NordicTrack® and Proform®.
Proceeds from the facility will be utilised to commit in concentrated expansion initiatives, effectiveness measures to improve worthwhile growth, as perfectly as elevate the iFIT member experience by continuing to innovate throughout interactive software, information, and components.
“We are grateful to the crew at Pathlight for supporting us as we enter our future chapter of growth at iFIT. As physical fitness routines normalize coming out of the pandemic, we strive to provide the most outsized health and fitness expertise regardless of where our member needs to training. The support from Pathlight will enable us to proceed our leadership posture in offering the most innovative hardware and immersive working experience,” mentioned Steve Barr and Mark Watterson, iFIT co-Presidents.
Mark Twomey, Associate of Pathlight Money commented, “Pathlight was very pleased to associate with L Catterton and the administration staff in supplying liquidity to assist the innovation iFIT delivers to the wellbeing and health market place. The material and interactive mother nature of their various products offerings proceeds to revolutionize the in-residence work out encounter. We are delighted to be a portion of this funds raise and glimpse forward to the ongoing progress of the business.”
About Pathlight Capital
Pathlight Money is a personal credit expenditure supervisor focused to meeting the wants of businesses that work across a wide range of industries by furnishing asset-primarily based financial loans secured on a to start with or 2nd lien foundation towards tangible and intangible property. Pathlight aims to provide artistic funding options to allow administration teams to access incremental liquidity for the applications of funding functioning cash, credit card debt refinancings, growth, acquisitions, dividends and turnaround strategies. For much more information, please stop by www.pathlightcapital.com.
About iFIT Health & Health and fitness Inc.
iFIT® is a international fitness and very well-remaining membership technologies business that supplies unmatched health experiences and answers to its increasing community of over 7.3 million customers in over 120 countries. iFIT’s industry-top brand names – NordicTrack®, ProForm®, Sweat®, Freemotion®, Weider® and 29029® – are powered by the iFIT built-in wellbeing and exercise system, which seamlessly connects the company’s proprietary computer software, experiential articles and interactive components. Centered in Logan, Utah, with offices in Paris, Shanghai, Sydney and Leeds, the firm delivers immersive, adaptive, personalized work out activities for every exercise level and fascination. iFIT provides these patented interactive activities through an comprehensive giving of are living and on-demand from customers material throughout the industry’s broadest vary of connected health and fitness modalities. iFIT is a pioneer and chief in the health and fitness and health and fitness market with more than 400 issued and pending patents.
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Source Pathlight Capital