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Mountain Ridge Capital Provides $25MM Credit Facility to Exercise Equipment Company

December 04, 2023, 07:45 AM
Filed Under: Fitness

Mountain Ridge Capital ("MRC") closed a $25 million senior secured credit facility to a U.S.-based designer and marketer of fitness equipment. The MRC facility refinanced the debt of another lender; the proceeds will be used to assist the Borrower’s management team in reaching its growth and operational objectives.  The enhanced credit package from MRC provides additional liquidity and structural flexibility which will aid the Company in managing its cash needs.

MRC’s Bill Drmacich stated, “We approached the Borrower’s management team from a unique perspective and worked with the Company through the diligence period and as needs changed, we were flexible with our structure.  We look forward to a mutually beneficial relationship with this Borrower as the company continues to grow and strengthen its market position.”  

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