Antares backs Norwest's Movati Athletic with $111 mln facility

U.S. mid-market lender Antares Capital said it is serving as administrative agent and joint lead arranger on a US$111 million senior secured credit facility to support the growth and refinancing of Movati Athletic Group by Norwest Equity Partners. Based in Windsor, Ontario, Movati is a health club operator that offers fitness classes, pools, basketball courts, women’s-only sections, childcare, weight training and cardio to over 95,000 members. It has been backed by Norwest, a U.S. private equity firm, since 2014. Antares, acquired by Canada Pension Plan Investment Board in 2015, said Movati is "uniquely positioned to gain share in the premium health club market in Canada."

DealsCanadaNorth AmericaBriefs