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MidCap Financial Provides Senior Secured Credit Facility to Echelon Fitness

July 13, 2022, 07:46 AM
Filed Under: Specialty Industries
Related: MidCap Financial

MidCap Financial provided a senior secured credit facility to Echelon Fitness Multimedia LLC and Echelon Fit Canada Inc. (“Echelon”). Proceeds from MidCap will be used on Echelon’s business needs by providing ongoing working capital for growth and expansion.

“At its core, Echelon has focused on making fitness accessible to everyone and being an innovator around the world. Our goal is to offer a holistic wellness approach that speaks to the body, mind, and soul and to help make meaningful change achievable for every single member,” said Lou Lentine, CEO of Echelon Fitness. “Expanding the tools and content we share with our members is a natural progression and MidCap Financial’s support will allow us to realign priorities, adjust to the changing and still demanding market and enhance experiences for our members. We couldn’t be more excited for the future of Echelon.”

“Echelon is a household name with a great product, and it has been a privilege to support their next chapter,” said Garrett Fletcher, Product Head of Asset Based Lending at MidCap Financial. “The transaction is yet another example of MidCap Financial’s ability to form long-term relationships to step-in as a capital partner when necessary.”

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