Fitness club chain strengthens nationwide presence with $13 million financing from Wingspire Equipment Finance

TUSTIN, Calif., June 24, 2024–(BUSINESS WIRE)–Wingspire Equipment Finance, a leading provider of equipment financing to middle market private equity investors, announces that it has provided $13,000,000 in committed capital to a growing chain of full-service fitness clubs. The sponsor’s portfolio company, which operates a chain of over 50 fitness clubs nationwide, is considered one of the top 20 largest fitness center operators in the country.

The financing was structured as an operating lease and arranged by Wingspire Equipment Finance. This allows the fitness company to purchase cardio equipment, free weights, weight training stations, AV equipment, lockers and furniture for new locations. The operating lease structure also covers the ancillary costs of equipment acquisition. Wingspire Equipment Finance has developed a financial package to meet the equipment needs of each new location and support the company’s overall growth strategy.

The fitness company previously struggled to secure financing for its new locations due to lenders’ hesitation due to the risks associated with the industry. However, Wingspire Equipment Finance showed confidence in the company’s operations and secured capital to equip nine new locations. With financing from Wingspire Equipment Finance, the fitness company is expected to outperform the industry and continue to grow its revenue by expanding the membership base at its new facilities.

“We are pleased to announce the successful funding of this opportunity, which significantly strengthens our client’s nationwide presence,” said Erik Blanch, Vice President of Business Development at Wingspire Equipment Finance. “This investment reflects our commitment to supporting companies that contribute to health and wellness in our communities. We look forward to their continued expansion and are proud to be part of their journey to impact people’s lives through fitness.”

Wingspire Equipment Finance provides fitness clubs with the capital to upgrade and expand their facilities. With in-depth knowledge of the unique challenges and demands of the fitness industry, Wingspire Equipment Finance helps fitness clubs achieve their growth plans while maintaining their financial health.

For more information about Wingspire Equipment Finance and its comprehensive financial solutions, visit ef.wingspirecapital.com.

About Wingspire Equipment Finance:

Wingspire Equipment Finance is a leading provider of equipment financing solutions and is committed to helping companies with flexible and innovative financial solutions. With a focus on customer success and industry expertise, Wingspire Equipment Finance helps companies succeed by providing customized financing options for their equipment needs. Wingspire Equipment Finance is the equipment financing arm of Wingspire Capital, a portfolio company of Blue Owl Capital Corporation (NYSE: OBDC) with over $175 billion in assets under management. As a specialty finance company, it provides direct lending solutions to middle-market U.S. companies.

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