BOSTON, April 14, 2022 /PRNewswire/ — Pathlight Cash LP (“Pathlight”) introduced it is serving as the Administrative Agent on the not too long ago funded $355,000,000 Senior Secured Credit Facility for iFIT Wellbeing & Conditioning Inc. (“iFIT” or the “Company”), a world chief in linked exercise and interactive articles with its considerable portfolio of iFIT® and Sweat® streaming platforms, and its very impressive machines makes NordicTrack® and Proform®.
Proceeds from the facility will be made use of to make investments in centered growth initiatives, performance steps to improve worthwhile growth, as perfectly as elevate the iFIT member practical experience by continuing to innovate throughout interactive application, content material, and components.
“We are grateful to the group at Pathlight for supporting us as we enter our upcoming chapter of growth at iFIT. As health routines normalize coming out of the pandemic, we strive to deliver the most outsized health practical experience regardless of in which our member wants to exercise. The aid from Pathlight will make it possible for us to continue on our management place in providing the most impressive components and immersive expertise,” stated Steve Barr and Mark Watterson, iFIT co-Presidents.
Mark Twomey, Lover of Pathlight Cash commented, “Pathlight was proud to spouse with L Catterton and the management workforce in supplying liquidity to aid the innovation iFIT provides to the health and fitness and physical fitness market. The information and interactive character of their diverse item choices carries on to revolutionize the in-household exercise routine practical experience. We are happy to be a section of this funds increase and appear forward to the ongoing expansion of the business.”
About Pathlight Capital
Pathlight Cash is a private credit history expense supervisor focused to assembly the requirements of companies that operate throughout a broad selection of industries by delivering asset-based financial loans secured on a to start with or 2nd lien basis in opposition to tangible and intangible assets. Pathlight aims to present resourceful funding alternatives to permit administration teams to access incremental liquidity for the reasons of funding operating funds, financial debt refinancings, expansion, acquisitions, dividends and turnaround procedures. For additional information, you should stop by www.pathlightcapital.com.
About iFIT Wellbeing & Exercise Inc.
iFIT® is a world conditioning and nicely-staying subscription engineering enterprise that offers unmatched physical fitness experiences and remedies to its developing community of about 7.3 million members in above 120 countries. iFIT’s field-top makes – NordicTrack®, ProForm®, Sweat®, Freemotion®, Weider® and 29029® – are driven by the iFIT built-in health and physical fitness platform, which seamlessly connects the company’s proprietary software program, experiential articles and interactive components. Based in Logan, Utah, with places of work in Paris, Shanghai, Sydney and Leeds, the firm delivers immersive, adaptive, personalised exercise routine ordeals for every single physical fitness degree and desire. iFIT provides these patented interactive experiences by way of an comprehensive providing of live and on-desire content across the industry’s broadest array of related exercise modalities. iFIT is a pioneer and chief in the health and physical fitness industry with much more than 400 issued and pending patents.
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Source Pathlight Capital
