Penfund provides $20 mln of expansion funding to GoodLife Fitness
Canadian private equity firm Penfund has provided $20 million in additional funding to GoodLife Fitness Centres Inc, a London, Ont.-based manager of over 350 fitness clubs located across Canada. The funding, which expands Penfund's $70 million second lien credit facility with Goodlife, announced last year, will support the company's new club program with an emphasis on its value banners: Fit4Less by GoodLife and Éconofitness by Énergie Cardio. To date, Penfund has provided and arranged $330 million of junior debt to GoodLife in six separate deals. The company is also backed by Manulife Capital, the private equity arm of insurance and financial services provider Manulife.
17 February 2016•3 mins read
