Anytime Fitness franchisee Bandon has secured a credit facility from Corlex Capital. No financial terms were disclosed. The financing will be used to to fund pending and future acquisitions.
ATLANTA, Jan. 21, 2021 /PRNewswire/ — Corlex Capital (“Corlex”), a minority-owned private equity and consulting firm, announced the closing of a senior secured credit facility to refinance and provide growth capital for Bandon Holdings (“Bandon”), the largest franchisee of Anytime Fitness. Corlex served as the exclusive debt advisor to Bandon for the financing.
“The COVID-19 pandemic has presented fiscally fit companies in the gym industry, such as Bandon, with attractive opportunities to grow their businesses,” commented Jon Marchel, Vice President, who led the financing for Corlex. “However, accessing growth capital during a time of industry disruption can be challenging and requires industry experience, trusted relationships with lenders, and subject matter expertise.”
Corlex is a trusted financing advisor to middle market companies and private equity sponsors. Working with Bandon’s management team and private equity sponsor, Corlex was able to source a financing package that refinanced an existing term loan and revolving line of credit, plus offered the company a delayed-draw term loan which is available to fund pending and future acquisitions.
During the financing process, Corlex’s debt advisory team manages the entire process of soliciting and receiving proposals and supporting our clients with value-added advice all the way through credit documentation and closing.
About Corlex Capital
Corlex is a minority-owned private equity and consulting firm that serves and invests growth capital in the franchising industry with a focus on multi-unit business models in the restaurant and non-food sectors. The firm leverages its specialized in-house operations team to create significant value for clients, investment partners, brand owners, developers, and the communities they serve. In addition, Corlex provides creative advisory services for closely held companies looking to source debt capital to expand or consolidate their business.
For more information, please visit www.corlexcapital.com.