Assembled Brands closed a new senior credit facility for STEPR, a pioneer of the compact, connected stair climber. This partnership provides the strategic funding required to support the brand’s transition from digital to omnichannel.
The non-dilutive solution allows the company to unlock dormant capital within its inventory and receivables to fuel its supply chain without the friction of traditional banking.
“STEPR is the embodiment of a brand that has successfully bridged the gap between a DTC business and a national category leader,” Abby Jonathan, assistant vice president of originations at Assembled Brands, said. “What stood out to us was their disciplined unit economics and the massive scale of their current expansion into hundreds of DICK’S Sporting Goods locations. By providing the needed working capital, we are ensuring the brand has the financial backing required to meet this surge in demand and dominate the connected fitness category.”
STEPR is now equipped with the financial agility to match its vision for 2026. This partnership ensures that as the brand continues its ascent, its capital structure remains resilient.
“As we hit this inflection point, we required a partner that understood the unique cadence of high-growth hardware,” Nick Goodman, COO of STEPR, said. “Assembled Brands stood out because they offered a scalable structure that respects our autonomy. This partnership ensures we have the fiscal foundation to meet worldwide demand today, while preparing our business for the institutional world of tomorrow.”
