Alaris Royalty Corp commits $35 mln to PF Growth Partners

Alternative financing firm Alaris Royalty Corp recently announced a US$35 million contribution to PF Growth Partners LLC (PFGP), a franchise group that operates 28 Planet Fitness clubs in the United States. Alaris agreed to contribute up to an additional US$10 million in 18 months time if financial conditions are satisfied. It also closed a US$26.9 million repurchase of units in Quetico LLC, a U.S. third-party logistics provider. Net proceeds from the Quetico repurchase helped fund the PFGP deal. Steve King, the president and CEO of the Calgary-based Alaris, was recently interviewed by Buyout's Steve Gelsi.

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