BOSTON, April 14, 2022 /PRNewswire/ — Pathlight Funds LP (“Pathlight”) introduced it is serving as the Administrative Agent on the lately funded $355,000,000 Senior Secured Credit score Facility for iFIT Health and fitness & Physical fitness Inc. (“iFIT” or the “Company”), a world leader in connected fitness and interactive content with its intensive portfolio of iFIT® and Sweat® streaming platforms, and its extremely impressive products manufacturers NordicTrack® and Proform®.
Proceeds from the facility will be made use of to invest in focused progress initiatives, performance steps to enrich successful expansion, as very well as elevate the iFIT member working experience by continuing to innovate throughout interactive software program, material, and hardware.
“We are grateful to the crew at Pathlight for supporting us as we enter our up coming chapter of growth at iFIT. As fitness routines normalize coming out of the pandemic, we attempt to supply the most outsized conditioning working experience no matter of wherever our member wishes to exercise session. The aid from Pathlight will allow for us to carry on our management place in offering the most progressive hardware and immersive knowledge,” mentioned Steve Barr and Mark Watterson, iFIT co-Presidents.
Mark Twomey, Associate of Pathlight Money commented, “Pathlight was proud to associate with L Catterton and the administration group in offering liquidity to guidance the innovation iFIT provides to the health and fitness and conditioning marketplace. The content material and interactive character of their diverse product choices proceeds to revolutionize the in-dwelling workout knowledge. We are delighted to be a aspect of this funds increase and appear forward to the ongoing progress of the small business.”
About Pathlight Capital
Pathlight Capital is a non-public credit score investment manager devoted to meeting the requires of firms that operate throughout a wide selection of industries by giving asset-dependent financial loans secured on a initially or 2nd lien foundation in opposition to tangible and intangible belongings. Pathlight aims to provide inventive financing answers to enable management teams to access incremental liquidity for the applications of funding operating funds, financial debt refinancings, expansion, acquisitions, dividends and turnaround procedures. For much more facts, remember to go to www.pathlightcapital.com.
About iFIT Well being & Conditioning Inc.
iFIT® is a worldwide health and properly-becoming membership know-how company that presents unmatched conditioning activities and remedies to its growing neighborhood of about 7.3 million users in about 120 countries. iFIT’s marketplace-primary models – NordicTrack®, ProForm®, Sweat®, Freemotion®, Weider® and 29029® – are driven by the iFIT built-in wellbeing and fitness system, which seamlessly connects the firm’s proprietary software, experiential written content and interactive hardware. Based in Logan, Utah, with workplaces in Paris, Shanghai, Sydney and Leeds, the business gives immersive, adaptive, individualized exercise session ordeals for each and every exercise level and interest. iFIT provides these patented interactive ordeals by way of an considerable giving of are living and on-demand written content throughout the industry’s broadest array of linked fitness modalities. iFIT is a pioneer and chief in the wellbeing and exercise business with much more than 400 issued and pending patents.
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Source Pathlight Funds