Atlas Credit Partners – an asset management firm specializing in investing and partnering with medium-sized businesses – has announced a $65 million Strategic Financing Facility to FitLab, a multi-brand fitness company whose fully integrated platform solves the siloed nature of the industry, with about $35 million funded at closing and $30 million of remaining availability.
This strategic facility from Atlas Credit Partners offers a significant step forward for FitLab. With this financing, FitLab acquired a fitness equipment manufacturer, enabling FitLab to seamlessly integrate every aspect of its customers’ fitness journey, delivering immersive experiences anytime, anywhere, and however its members train.
Atlas Credit Partners has a history of successful value-oriented credit investments, having invested a combined $950+ million to date. The company utilizes its 80+ years of business experience at top-tier institutions to assist portfolio companies in executing their business plans and broadening their market presence.
Billings & Company and Compass Point were financial advisors to FitLab concerning the strategic acquisition financing.
KEY QUOTES:
“Our pursuit of excellence extends beyond fitness and wellness innovation, encompassing strategic partnerships that elevate our company. We’re thrilled to secure the financing from Atlas to allow us to accelerate our expansion and offer our integrated platform to a broader audience seeking unparalleled fitness experiences.”
– Mike Melby, Co-Founder and Co-CEO of FitLab
“FitLab uniquely integrates every channel of the fitness ecosystem into a single, differentiated platform. With this acquisition, combined with the company’s ramp of boutique fitness studios and partnership with a best-in-class global brand, we believe that our investment will help accelerate the pace at which the company continues to innovate the fitness experience.”
– Andrew Sung, Head of Research at Atlas Credit Partners
