MidCap Financial Closes Senior Secured Credit Facility to Echelon Fitness

BETHESDA, MD., July 12, 2022 /PRNewswire/ — MidCap Financial, a leading trade finance company focused on middle market transactions, announced this week that it has provided a senior secured credit facility to Echelon Fitness Multimedia LLC and Echelon Fit Canada Inc. (“Echelon”). Proceeds from MidCap will be used for Echelon’s business needs providing ongoing working capital for growth and expansion.

“At its core, Echelon has been focused on making fitness accessible to everyone and being an innovator around the world. Our goal is to offer a holistic approach to wellness that speaks to the body, to the mind and soul and to help make meaningful change achievable for every single member,” said Lou Lentin, 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, adapt to the ever-changing and demanding marketplace, and improve experiences for our members.” . 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 another example of MidCap Financial’s ability to build long-term relationships to step in as a financial partner if needed.”

About Echelon Fitness

Echelon has been revolutionizing home fitness since 2017 with a range of smart exercise equipment and an immersive membership experience. What started as a mission to make healthy living accessible to everyone has grown into a thriving global brand. Echelon allows everyone to feel the sense of exhilaration and accomplishment after achieving their fitness goals. Members connect their smart Echelon bikes, rowers, treadmills or fitness mirrors to the Echelon Fit app to access live, on-demand workout classes filmed at Echelon studios around the world and led by professional instructors . Through the app, members track performance and progress in real time, participate in the interactive leaderboard, and explore over 2,000 no-equipment workouts to stay motivated and inspired. For more information about Echelon Fitness, visit https://echelonfit.com/.

About MidCap Financial

MidCap Financial is a middle-market focused specialty finance company providing senior debt solutions to companies across all industries. From March 31, 2022MidCap Financial provides administrative and other services for over $40.4 billion of commitments. MidCap Financial is managed by Apollo Capital Management, LP, a subsidiary of Apollo Global Management, Inc, pursuant to an investment management agreement. Apollo had assets under management of approximately $513 billion of the March 31, 2022 in credit, private equity and real asset funds. For more information about MidCap Financial, please visit http://www.midcapfinancial.com. For more information about Apollo, please visit http://www.apollo.com.

Contact:

MidCap Financial Services, LLC


Garrett Fletcher, Product Manager – ABL


301-841-6439


[email protected]

SOURCE MidCap Financial

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