SSG Closes Internet Fitness Refinancing
SSG Capital Advisors (SSG) announced it acted as the exclusive investment banker to Internet Fitness, d/b/a Smooth Fitness, in the placement of a new secured term loan. The transaction closed in July 2012.
Since refining its e-commerce strategy in recent years, the company has experienced tremendous growth. SSG said it was retained to help source additional debt capital to infuse liquidity to support this growth and ultimately delivered a new secured term loan.
Smooth, a portfolio company of NewSpring Capital and Spring Capital, is a designer and online retailer of home fitness equipment across North America. The company markets and sells its products exclusively over the Internet through its U.S. websites.