Sienna Lending Group Announces Credit Facility for Smooth Fitness
Siena Lending Group announced the completion of a two-year $5 million senior secured revolving credit facility for Smooth Fitness on September 23, 2013. The facility will be used to support the company’s working capital and growth plans. In addition, the facility includes an accordion option that can be exercised by the company to increase the line size.
David Grende, president and CEO of Siena Lending Group, said, “We are pleased to provide an innovative and creative financial solution that will assist the company through their seasonal needs and growth objectives. We look forward to working with the company as they execute their business plan.”
Tim MacColl, managing partner of Larsen MacColl Partners, said, “We are extremely happy with Siena Lending Group’s execution, responsiveness and their ability to be flexible. Siena’s facility will allow Smooth to attain its growth initiatives.”
Headquartered in King of Prussia, PA and owned by a private equity sponsor, Larsen MacColl Partners, Smooth Fitness is a premier designer and online retailer of home fitness equipment across North America.