GoodLife Fitness Centres Receives $70M Loan from PenFund

GoodLife Fitness Centres Inc., a Canadian fitness company, received a $70m loan from private equity firm PenFund.

The proceeds of the facility together with the proceeds of a $175m 1st lien term and revolver facility provided by a syndicate of banks will be used principally to refinance existing debt of the company.

Founded in 1979 by David “Patch” Patchell-Evans, CEO, GoodLife is a large operator of fitness clubs with over 335 clubs in Canada operating under the banners of GoodLife Fitness and Fit4Less by GoodLife, as well as Énergie Cardio and Éconofitness par Énergie Cardio in Quebec.



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