Tiger Capital Group’s lending platform, Tiger Finance, has provided $35 million in financing to The Beachbody Company, a fitness and nutrition company.
SG Credit Partners participated with Tiger in the funding package, which included an immediate $25 million term loan, as well as a $10 million uncommitted accordion. The three-year loan facility allowed the El Segundo, California-based company to retire $17.3 million of outstanding debt, while adding approximately $5 million of capital to its balance sheet.
“We’re very excited to partner with Beachbody to support their expansion in the digital fitness and nutrition space,” Andy Babcock, managing director at Tiger Finance, said. “Our team believes that this and other strategic moves by management should position Beachbody for greater profitability and long-term growth.”
“Tiger’s belief in our business plan and flexible approach to lending gave us the liquidity to execute on our efforts to open new and more profitable channels of distribution,” Carl Daikeler, co-founder and CEO of Beachbody, said. “We are thrilled to partner with them and SG Credit Partners on our turnaround strategy.”
