Express: Express Fitness Expands into US with Mighty Pilates Acquisition
Deal News | Jun 26, 2025 | Sygnus Capital Ltd
Sygnus Capital Limited has orchestrated a US$8.6 million private credit facility to enable Express Fitness Limited to acquire a majority stake in California-based Mighty Pilates LLC. This transaction, a landmark in the regional health and wellness industry, propels Express Fitness beyond its Caribbean roots into the competitive US fitness market. The credit facility was provided by Sygnus Credit Investments Limited (SCI) and allows Express Fitness to purchase 65% of Mighty Pilates, a boutique fitness platform with nine studios throughout Northern and Southern California. This move underscores Sygnus's proficiency in private credit and its strategic support for Caribbean businesses seeking global expansion opportunities. The acquisition aligns with Norbrook Equity Partners' mission to scale innovative Caribbean ventures internationally. As a renowned alternative investment firm in the Caribbean, Sygnus has consistently empowered regional enterprises through transformative financing solutions.
Sectors
- Private Credit
- Fitness & Wellness
- Investment Banking
Geography
- United States – The article discusses the acquisition of California-based Mighty Pilates, marking Express Fitness's entry into the US market.
- Jamaica – Express Fitness is Jamaica's largest fitness chain, and Sygnus Capital, based in Kingston, is instrumental in orchestrating the deal.
- Caribbean – Sygnus Capital focuses on aiding Caribbean businesses in international expansion, and Express Fitness is a leading fitness chain in the Caribbean.
Industry
- Private Credit – Sygnus arranged a private credit facility for the acquisition, demonstrating the usage and significance of private credit in financing transactions.
- Fitness & Wellness – The acquisition involves Mighty Pilates, a boutique fitness platform, aligning with the health and wellness industry's expansion trends.
- Investment Banking – Sygnus Capital's role in structuring the transaction and its investment banking unit highlights the industry's involvement in facilitating cross-border M&A deals.
Financials
- US$8.6 million – The amount provided by Sygnus Credit Investments Limited for the acquisition of Mighty Pilates.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sygnus Capital Limited | Arranger | Company | Sygnus Capital arranged the private credit facility to support the acquisition deal. |
| Express Fitness Limited | Buyer | Company | Express Fitness, Jamaica's largest fitness chain, acquired a majority stake in Mighty Pilates. |
| Mighty Pilates LLC | Target | Company | A California-based boutique fitness platform with studios in Northern and Southern California. |
| Norbrook Equity Partners | Operator | Company | Operator of Express Fitness and continues to support its growth. |
| Sygnus Credit Investments Limited | Financier | Company | Provided the US$8.6 million private credit facility for the acquisition. |