Fitness Club Chain Boosts Nationwide Presence with $13 Million in Financing from Wingspire Equipment Finance
25 June 2024 - 2:42AM
Business Wire
Wingspire Equipment Finance, a leading equipment finance
provider for private equity-backed, middle market companies,
announces that it has extended $13,000,000 in committed capital to
a growing chain of full-service fitness clubs. The sponsor’s
portfolio company, operating a chain of over 50 fitness club
locations nationwide, is considered one of the country's top 20
largest health club operators.
The financing was structured as an operating lease and
facilitated by Wingspire Equipment Finance. This will allow the
fitness company to acquire cardio machines, free weights, strength
training stations, AV equipment, lockers, and furniture for new
locations. The operating lease structure also covers equipment
acquisition soft costs. Wingspire Equipment Finance designed a
financial package to meet the equipment needs of each new location
and support the company's overall growth strategy.
The fitness company previously faced challenges securing
financing for its new locations, as lenders were hesitant due to
the perceived risks associated with the industry. However,
Wingspire Equipment Finance demonstrated confidence in the
company's operations and secured the capital to outfit nine new
locations. With Wingspire Equipment Finance's funding, the fitness
company is projected to outperform the industry and continue to
grow its top-line revenue by expanding its membership base in its
new facilities.
"We are excited to announce the successful funding of this
opportunity, which significantly bolsters our client's nationwide
footprint," said Erik Blanch, Vice President of Business
Development at Wingspire Equipment Finance. "This investment
reflects our commitment to support businesses that contribute to
health and wellness in our communities. We look forward to their
continued expansion and are proud to be part of their journey
impacting people's lives through fitness."
Wingspire Equipment Finance empowers fitness clubs with the
capital to upgrade and expand their facilities. With keen insight
into the unique challenges and requirements of the fitness
industry, Wingspire Equipment Finance supports fitness clubs in
achieving their growth plans while maintaining their financial
health.
For more information about Wingspire Equipment Finance and its
comprehensive finance solutions, please visit
ef.wingspirecapital.com.
About Wingspire Equipment Finance:
Wingspire Equipment Finance is a leading provider of equipment
financing solutions, committed to empowering businesses with
flexible and innovative financial solutions. With a focus on client
success and industry expertise, Wingspire Equipment Finance is
dedicated to helping companies thrive by providing tailored
financing options for their equipment needs. Wingspire Equipment
Finance is the equipment financing arm of Wingspire Capital, a
portfolio company of Blue Owl Capital Corporation (NYSE: OBDC) with
over $175B in AUM. As a specialty finance company, it provides
direct lending solutions to U.S. middle market companies.
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