Penfund provides $70 mln credit facility to GoodLife Fitness Centres
Canadian private equity firm Penfund has completed a $70 million second lien credit facility extended to its portfolio company GoodLife Fitness Centres Inc. The proceeds of the facility, together with the proceeds of a $175 million first lien term and revolver facility provided by a syndicate of banks, will be used to refinance the company's existing debt. Headquartered in London, Ontario, GoodLife manages over 335 fitness clubs located across Canada and currently has more than a million members. Its other backers include Manulife Capital. Based in Toronto, Penfund specializes in providing junior capital to mid-market businesses in North America.
6 April 2015•3 mins read
