Monroe Capital LLC has provided a senior credit facility to back Xponential Fitness LLC‘s acquisition of Pure Barre, a barre franchise. No financial terms were disclosed. Pure Barre was backed by L Catterton, which made an undisclosed investment in the acquisition.
CHICAGO–(BUSINESS WIRE)–Monroe Capital LLC today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of Pure Barre by Xponential Fitness LLC (“Xponential”). As part of the transaction, LCatterton, which invested in Pure Barre in 2015, will contribute its investment into the acquisition.
Founded in 2001 and with more than 517 studios, Pure Barre is the largest, most established barre franchise in North America. Pure Barre classes offer an extremely effective total body workout that lifts your seat, tones your thighs, abs and arms, and burns fat in record-breaking time. Founded in 2017, Xponential is the curator of the best brands across every vertical in the boutique fitness space – including Pilates, indoor cycling, stretch, rowing, dance and yoga. Xponential’s portfolio of brands includes Club Pilates, CycleBar, StretchLab, Row House, AKT and Yoga Six. With the addition of Pure Barre, Xponential becomes the largest provider of boutique fitness in the world.
About Monroe Capital
Monroe Capital LLC (“Monroe”) is a private credit asset management firm specializing in direct lending and opportunistic private credit investing. Since 2004, the firm has provided private credit solutions to borrowers in the U.S. and Canada. Monroe’s middle market lending platform provides senior and junior debt financing to businesses, special `situation borrowers, and private equity sponsors. Investment types include unitranche financings; cash flow, asset based and enterprise value based loans; and equity co-investments. Monroe is committed to being a value-added and user-friendly partner to business owners, senior management, and private equity and independent sponsors. The firm is headquartered in Chicago and maintains offices in Atlanta, Boston, Dallas, Los Angeles, New York, and San Francisco.
Monroe has been recognized by Creditflux as the 2018 Best U.S. Direct Lending Fund; Private Debt Investor as the 2017 Lower Mid-Market Lender of the Year; Global M&A Network as the 2017 Small Middle Markets Lender of the Year; M&A Advisor as the 2016 Lender Firm of the Year; and the U.S. Small Business Administration as the 2015 Small Business Investment Company (SBIC) of the Year. For more information, please visit monroecap.com.