BOSTON, April 14, 2022 /PRNewswire/ — Pathlight Capital LP (“Pathlight”) introduced it is serving as the Administrative Agent on the a short while ago funded $355,000,000 Senior Secured Credit score Facility for iFIT Overall health & Exercise Inc. (“iFIT” or the “Enterprise”), a worldwide chief in connected conditioning and interactive articles with its considerable portfolio of iFIT® and Sweat® streaming platforms, and its remarkably revolutionary tools brands NordicTrack® and Proform®.
Proceeds from the facility will be applied to invest in targeted progress initiatives, effectiveness steps to greatly enhance profitable development, as very well as elevate the iFIT member working experience by continuing to innovate across interactive computer software, material, and components.
“We are grateful to the crew at Pathlight for supporting us as we enter our subsequent chapter of expansion at iFIT. As conditioning routines normalize coming out of the pandemic, we strive to deliver the most outsized fitness knowledge irrespective of where by our member wants to exercise routine. The support from Pathlight will let us to proceed our management situation in delivering the most impressive hardware and immersive working experience,” said Steve Barr and Mark Watterson, iFIT co-Presidents.
Mark Twomey, Companion of Pathlight Money commented, “Pathlight was proud to companion with L Catterton and the administration crew in giving liquidity to support the innovation iFIT delivers to the health and fitness and physical fitness industry. The information and interactive mother nature of their diverse products choices carries on to revolutionize the in-house training knowledge. We are pleased to be a part of this funds elevate and search forward to the continued progress of the business enterprise.”
About Pathlight Capital
Pathlight Funds is a personal credit investment manager devoted to conference the wants of organizations that function across a wide selection of industries by giving asset-centered financial loans secured on a 1st or second lien foundation towards tangible and intangible belongings. Pathlight aims to supply resourceful funding answers to enable management groups to entry incremental liquidity for the needs of funding working money, credit card debt refinancings, expansion, acquisitions, dividends and turnaround strategies. For much more data, be sure to visit www.pathlightcapital.com.
About iFIT Health & Conditioning Inc.
iFIT® is a world-wide physical fitness and effectively-remaining subscription know-how enterprise that delivers unmatched physical fitness ordeals and answers to its rising community of about 7.3 million associates in over 120 international locations. iFIT’s market-main brand names – NordicTrack®, ProForm®, Sweat®, Freemotion®, Weider® and 29029® – are powered by the iFIT integrated overall health and exercise platform, which seamlessly connects the company’s proprietary software package, experiential information and interactive components. Based in Logan, Utah, with places of work in Paris, Shanghai, Sydney and Leeds, the firm presents immersive, adaptive, customized exercise routine ordeals for each and every health amount and curiosity. iFIT provides these patented interactive experiences by way of an in depth presenting of reside and on-demand material throughout the industry’s broadest variety of related health modalities. iFIT is a pioneer and chief in the wellbeing and health business with additional than 400 issued and pending patents.
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