RM SecDirect Lending - Update on secured loan to Gym franchise
("RMDL" or the "Company")
Update on secured loan to Gym franchise
Support for Management Buy Out
RM Funds, Investment Manager to RMDL, today announces an update on its
As outlined in the monthly factsheet for
RMDL today announces its support for a Management Buy Out ("MBO") of the business. The MBO is led by Jan Spaticchia, the founder of énergie and the person responsible for its nationwide growth since founding the company in 2003, opening 105 clubs, and 85 franchisees with 143,000 members, until the sale of the business in 2019.
Mr Spaticchia will reacquire the business, with backing from RMDL and a consortium of investors, including several of énergie's original founder-shareholders. énergie
Further details will be released in the RMDL
"We are pleased to continue to support énergie under Jan Spaticchia and the team. The acquisition and recapitalisation of the business preserves RMDL's senior secured investment, enhances RMDL's economic interest, secures jobs and provides certainty of funding, allowing Jan and the management team to restore the growth of the business and brand, once gyms are allowed to reopen."
"This demonstrates the benefits of RMDL's strategy to provide tailored, secured debt solutions to high quality businesses as well as the ability of the Investment Manager to act flexibly and work with borrowers to find resolutions and preserve the interests of RMDL's Shareholders."
For further information, please contact:
Tel: 0203 697 1768
Tel: 0207 353 4200
About RM Funds
RM Funds is the Investment Manager to
About RM Secured Direct Lending
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