Churchill supports Centre Partners’ buyout of One World Fitness

Churchill Asset Management has provided a senior secured facility to back Centre Partners‘ acquisition of One World Fitness, owner and operator of fitness clubs under the Planet Fitness banner. No financial terms were disclosed. Churchill was the administrative agent and sole lead arranger on the financing.


New York, NY, April 9, 2019 – Churchill Asset Management (“Churchill”) today announced that it served as Administrative Agent and Sole Lead Arranger for a senior secured facility to support the acquisition of One World Fitness (formerly known as New England Fitness) by Centre Partners.
Founded in 2006, One World Fitness is a leading franchisor and operator of 18 Planet Fitness clubs across New Jersey and Massachusetts. Planet Fitness, one of the largest gym concepts in the U.S. with over 12 million members, prides itself on providing a high-quality experience at an exceptional value in a welcoming, non-intimidating environment.

“One World Fitness is one of the premier Planet Fitness franchisees and has a proven track record of new club development,” said Randy Schwimmer, Senior Managing Director and Head of Origination & Capital Markets at Churchill. “We believe the company’s strong management team, combined with support from a highly credible franchisor and Centre Partners, a deeply experienced private equity sponsor, will allow the business to successfully execute its organic and acquisition driven growth strategy.”

While the Churchill team has a longstanding relationship with Centre Partners, this is the first transaction completed together since joining Nuveen in 2015. Founded in 1986, Centre Partners is a leading middle market private equity firm focused on making control investments in North American businesses in the consumer and healthcare industries.

“Churchill structured an attractive financing solution for this transaction, tailored to our needs, and always acted quickly and decisively,” said Bruce Pollack, Managing Partner at Centre Partners, adding, “We look forward to our continued partnership with Churchill.”

About Churchill Asset Management
Based in New York, Churchill Asset Management LLC is a leading provider of senior and unitranche debt financing for middle market companies, particularly those backed by top-tier private equity sponsors. Churchill has $6.4 billion of committed capital under management and has broad experience in all aspects of the middle market financing business, including structuring, credit analysis, syndication, and deal monitoring and oversight. More information can be found at

About Centre Partners
Founded in 1986, Centre Partners is a leading middle-market private equity firm focusing on the consumer and healthcare sectors, with offices in New York and Los Angeles. Centre has invested over $2 billion of equity capital in more than 80 transactions since its inception. Centre seeks to partner with founders and management teams to build exceptional businesses. Centre Partners provides management teams access to its unique resources, which includes an extended network of experienced and proven operating executives. Additional information is available at