Comvest Credit Partners Serves as Joint Lead Arranger on $325 Million Senior Credit Facility for Solidcore
Summary
Financing supports acquisition of majority stake in the Pilates workout fitness chain by L CattertonWEST PALM BEACH, Fla., February 04, 2025--(BUSINESS WIRE)--Comvest Credit Partners, a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it is acting as Joint Lead Arranger on a $325 million senior secured credit facility for Solidcore, a Pilates workout fitness chain based in Rosslyn, Va. The financing supports the acquisition of a majority stake in Solidcore by private equity firm L Catterton.Solidcore owns and operates a national network of fitness studios providing targeted strength training on custom-built Pilates reformer machines. "Solidcore is a leading brand in Pilates, the fastest-growing segment of the boutique fitness industry, and offers compelling historical growth, strong financial performance, and the support of a leading consumer-focused private equity sponsor," said Nick McClelland, a Managing Director and Co-Head of Consumer & Retail at Comvest Credit Partners. "Comvest Credit Partners looks forward to working with the L Catterton team to support Solidcores continued business growth and expansion into existing and new markets. For more information, please visit comvest.com/direct-lending.Comvest Partners ("Comvest") is a private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000.