24 Hour Fitness Secures $305M to Strengthen Market Position
Deal News | May 14, 2025 | Ropes & Gray
24 Hour Fitness, a leader in the health and fitness club industry, has secured a $305 million senior secured facility. This financial arrangement aims to boost the company's liquidity and further enhance its position in the market. The legal advisory for this significant transaction was provided by Ropes & Gray, highlighting their expertise in finance and capital markets. Announced on May 13, the transaction involved the strategic counsel and leadership of finance partner Leonard Klingbaum, alongside counsel Brett Pearlman, with tax partners Pam Glazier and Alyssa Kollmeyer providing additional expertise.
Sectors
- Health and Fitness
- Finance and Capital Markets
- Legal Advisory
Geography
- United States – 24 Hour Fitness is a prominent US-based health and fitness club operator, and the advisory services were provided by the US law firm Ropes & Gray.
Industry
- Health and Fitness – 24 Hour Fitness operates within the health and fitness industry, providing facilities and services aimed at improving physical well-being.
- Finance and Capital Markets – The transaction involves a senior secured facility, highlighting activities within finance, specifically capital raising and market operations.
- Legal Advisory – Ropes & Gray provided legal advice for the transaction, playing a crucial role in structuring and executing the deal.
Financials
- $305 million – The value of the senior secured facility secured by 24 Hour Fitness.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| 24 Hour Fitness | Target Company | Company | A leading health and fitness club operator involved in securing the senior secured facility. |
| Ropes & Gray | Legal Advisor | Company | Provided legal advisory services for the $305 million financing transaction. |
| Leonard Klingbaum | Finance Partner | Person | Finance partner at Ropes & Gray leading the transaction. |
| Brett Pearlman | Counsel | Person | Counsel at Ropes & Gray involved in the transaction. |
| Pam Glazier | Tax Partner | Person | Tax partner at Ropes & Gray providing expertise in the transaction. |
| Alyssa Kollmeyer | Tax Partner | Person | Tax partner at Ropes & Gray providing expertise in the transaction. |