Wingspire Equipment Finance, a prominent provider of financial solutions tailored for middle-market enterprises backed by private equity, has allocated $13,000,000 in committed capital to bolster the expansion efforts of a burgeoning chain of comprehensive fitness clubs. This initiative marks a significant stride for the sponsor’s portfolio company, currently operating an extensive network of more than 50 fitness club venues across the nation, positioning itself among the top 20 largest health club operators in the United States.
The financing, structured as an operating lease, facilitated by Wingspire Equipment Finance, is poised to furnish the fitness company with essential equipment ranging from cardio machines, free weights, and strength training stations to AV equipment, lockers, and furniture for their new locations. This financial arrangement encompasses the acquisition costs of equipment and ancillary expenses, pivotal in supporting the company's overarching growth strategy.
Previously, the fitness company encountered challenges in securing adequate financing for its expansion endeavors, encountering hesitancy from conventional lenders due to perceived industry risks. However, Wingspire Equipment Finance demonstrated unwavering confidence in the operational prowess of the fitness chain, thereby securing the necessary capital to outfit nine new locations. This strategic infusion is anticipated to elevate the company's revenue streams significantly, bolstering its membership base as it expands into new facilities.
We are excited to announce the successful funding of this opportunity, which significantly bolsters our client's nationwide footprint, remarked Erik Blanch, Vice President of Business Development at Wingspire Equipment Finance. This investment underscores our commitment to supporting enterprises that foster health and wellness within our communities. We eagerly anticipate their continued expansion and take pride in being a catalyst for their journey towards enhancing lives through fitness.
Wingspire Equipment Finance stands at the forefront, empowering fitness clubs with the requisite capital to elevate and enlarge their operational capacities. With an acute understanding of the distinctive challenges and requisites of the fitness industry, Wingspire Equipment Finance plays a pivotal role in enabling fitness clubs to realize their growth aspirations while ensuring fiscal robustness.
