BOSTON, April 14, 2022 /PRNewswire/ — Pathlight Money LP (“Pathlight”) announced it is serving as the Administrative Agent on the just lately funded $355,000,000 Senior Secured Credit Facility for iFIT Overall health & Health Inc. (“iFIT” or the “Business”), a global leader in related health and fitness and interactive material with its extensive portfolio of iFIT® and Sweat® streaming platforms, and its highly modern products models NordicTrack® and Proform®.
Proceeds from the facility will be employed to invest in focused development initiatives, effectiveness actions to enrich profitable advancement, as nicely as elevate the iFIT member encounter by continuing to innovate across interactive software package, written content, and components.
“We are grateful to the team at Pathlight for supporting us as we enter our up coming chapter of expansion at iFIT. As physical fitness routines normalize coming out of the pandemic, we attempt to deliver the most outsized physical fitness experience regardless of exactly where our member needs to exercise. The aid from Pathlight will let us to go on our management place in delivering the most innovative components and immersive working experience,” mentioned Steve Barr and Mark Watterson, iFIT co-Presidents.
Mark Twomey, Husband or wife of Pathlight Money commented, “Pathlight was very pleased to associate with L Catterton and the management staff in offering liquidity to help the innovation iFIT provides to the wellness and fitness industry. The articles and interactive mother nature of their numerous product choices proceeds to revolutionize the in-home workout experience. We are pleased to be a portion of this capital raise and glimpse ahead to the ongoing growth of the business.”
About Pathlight Capital
Pathlight Capital is a private credit score expenditure supervisor devoted to conference the desires of firms that function throughout a wide vary of industries by delivering asset-dependent loans secured on a 1st or 2nd lien basis versus tangible and intangible property. Pathlight aims to present imaginative financing answers to make it possible for administration groups to entry incremental liquidity for the reasons of funding working capital, debt refinancings, development, acquisitions, dividends and turnaround techniques. For far more information, remember to stop by www.pathlightcapital.com.
About iFIT Health & Exercise Inc.
iFIT® is a world physical fitness and very well-staying membership engineering corporation that delivers unmatched conditioning activities and options to its escalating local community of around 7.3 million users in over 120 nations. iFIT’s sector-main models – NordicTrack®, ProForm®, Sweat®, Freemotion®, Weider® and 29029® – are run by the iFIT integrated overall health and health system, which seamlessly connects the company’s proprietary application, experiential content and interactive components. Centered in Logan, Utah, with workplaces in Paris, Shanghai, Sydney and Leeds, the corporation presents immersive, adaptive, individualized work out encounters for just about every health and fitness amount and desire. iFIT provides these patented interactive ordeals by means of an substantial giving of reside and on-demand content throughout the industry’s broadest selection of connected exercise modalities. iFIT is a pioneer and leader in the wellbeing and health and fitness market with a lot more than 400 issued and pending patents.
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