NEW YORK, Sept. 8, 2016 /PRNewswire/ — Golub Capital announced today that as Administrative Agent, Sole Lead Arranger and Sole Bookrunner, it provided a GOLD financing and equity co-investment to Newfit, in conjunction with LNK Partners’ investment in the business. GOLD financings are Golub Capital’s One-Loan Debt facilities.
Newfit operates six low price, high amenity fitness clubs as a licensee of the Fitness Connection brand. In 2013, Golub Capital also invested alongside LNK and management in Fitness Connection. Combined, the two businesses operate 33 low price, high amenity Fitness Connection locations in Texas, North Carolina and Nevada. Fitness Connection’s management team also participated in the investment in Newfit.
“We are thrilled to have been able to support LNK Partners and Fitness Connection management in their investment in Newfit,” said Greg Cashman, Managing Director at Golub Capital. “We have enjoyed partnering with LNK on this transaction, and, since 2013, on their investment in Fitness Connection. We look forward to continuing to work alongside the team at LNK to grow both businesses in new and existing markets.”
“Golub Capital continues to exceed our expectations with curated, flexible and reliable financing,” said Kayvan Heravi, Partner at LNK Partners. “Their team really understands multi-unit retail businesses and how to finance their growth. We look forward to partnering with the Golub Capital team again.”
About Golub Capital Middle Market Lending
Golub Capital’s Middle Market Lending group provides financing for middle market, private equity-backed transactions with hold positions of up to $300 million and is an arranger of credit facilities up to $750 million. Golub Capital’s award-winning team strives to establish long-term, win-win partnerships by providing dependable, fast and creative solutions that meet private equity sponsors’ and portfolio companies’ needs.
Golub Capital is a nationally recognized credit asset manager with over $18 billion of capital under management. For over 20 years, the firm has provided credit to help medium-sized U.S. businesses grow. The firm’s award-winning middle market lending business helps provide financing for middle market companies and their private equity sponsors. Golub Capital’s credit expertise also forms the foundation of its Late Stage Lending and Broadly Syndicated Loan businesses. Golub Capital has worked hard to build a reputation as a fast, reliable provider of compelling finance solutions, and we believe this has inspired repeat clients and investors. Today, the firm has over 300 employees with lending offices in Chicago, New York and San Francisco. For more information, please visit www.golubcapital.com.
About LNK Partners
LNK Partners is a private equity firm focused on backing strong management teams who are building outstanding consumer and retail businesses. LNK’s partners have extensive experience successfully investing in or operating many leading consumer and retail businesses, including Staples, Quaker Oats, Pepsi, Gatorade, Beachbody, Ariat, Levi Strauss, PVH/Calvin Klein/Tommy Hilfiger, Campbell’s, Niman Ranch, Pepperidge Farm, Godiva, and Yankee Candle. LNK is further distinguished by the high degree of flexibility in the type, structure, and size of its investments, and its willingness to be a minority or majority shareholder. LNK invests in a broad range of investment types, including growth capital, buyouts, recapitalizations, and PIPEs. LNK typically invests between $50–200 million per transaction. To learn more, visit LNKpartners.com.
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SOURCE Golub Capital
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