iFit’s $200 Million Fundraising

Lowenstein Sandler represented Pamplona Capital Management, lead investor, in the $200 million growth capital equity investment in iFit. Bank of America Merrill Lynch served as exclusive financial advisor to ICON. Barclays served as financial advisor to Pamplona.

iFit completed a $200m growth equity investment led by Pamplona Capital Management.

Pamplona’s investment will allow iFit to further accelerate its rapidly growing interactive fitness platform in the connected home and club fitness industries by expanding consumer awareness, broadening its already expansive library of interactive fitness content, and fuel further innovation to enhance customers’ fitness experience.

iFit is the connected fitness streaming platform, owned by ICON Health & Fitness. ICON is also the parent company of fitness market leaders NordicTrack, ProForm, and Freemotion.

Pamplona Capital Management is a specialist investment manager established in 2005 that provides an alternative investment platform across private equity and other diversified strategies. With offices in New York, London, Madrid, and Malta, Pamplona manages over $12 billion in assets for a variety of clients including public pension funds, international wealth managers, multinational corporations, family offices, and funds of hedge funds. Pamplona invests long-term capital across the capital structure of its portfolio companies in both public and private market situations.

The Lowenstein deal team included Michael A. Brosse (Picture), Eric Swartz, Mitchell McDonald and Michael T. Melchiorre (Corporate), Michael Walutes (Tax), Lowell A. Citron (Debt Financing), and Nicholas G. Mehler (IP).

Involved fees earner: Michael Brosse – Lowenstein Sandler LLP; Lowell Citron – Lowenstein Sandler LLP; Mitchell McDonald – Lowenstein Sandler LLP; Nicholas Mehler – Lowenstein Sandler LLP; Eric Swartz – Lowenstein Sandler LLP; Michael Walutes – Lowenstein Sandler LLP;

Law Firms: Lowenstein Sandler LLP;

Clients: Pamplona Capital Management;

Author: Ambrogio Visconti