Pathlight Capital served as the administrative agent on a $355 million senior secured credit facility for iFIT Health & Fitness, a provider of connected fitness and interactive content with its portfolio of iFIT and Sweat streaming platforms, and its equipment brands NordicTrack and Proform.
Proceeds from the facility will be used to invest in focused growth initiatives, efficiency measures to enhance profitable growth as well as elevate the iFIT member experience by continuing to innovate across interactive software, content and hardware.
“We are grateful to the team at Pathlight for supporting us as we enter our next chapter of growth at iFIT. As fitness routines normalize coming out of the pandemic, we strive to deliver the most outsized fitness experience regardless of where our member wants to workout. The support from Pathlight will allow us to continue our leadership position in delivering the most innovative hardware and immersive experience,” Steve Barr and Mark Watterson, iFIT co-presidents, said.
“Pathlight was proud to partner with L Catterton and the management team in providing liquidity to support the innovation iFIT delivers to the health and fitness market,” Mark Twomey, partner of Pathlight Capital, said. “The content and interactive nature of their diverse product offerings continues to revolutionize the in-home workout experience. We are pleased to be a part of this capital raise and look forward to the continued growth of the business.”
