Brookside provided a unitranche debt facility and equity co-investment to support the Topspin acquisition. “Through our acquisition of HCOA, Brookside has again shown itself to be one of Topspin’s most supportive and trusted financing partners,” said Topspin Managing Director Leigh Randall. “We look forward to working with Brookside in building yet another successful portfolio company.”
Brookside Mezzanine Partners provides subordinated debt and minority equity to small and mid-sized companies seeking long-term capital to support buyouts, leveraged recapitalizations, strategic acquisitions, dividends and growth capital. Target companies generally have trailing twelve month revenue of at least $15 million and EBITDA of at least $3 million. Brookside manages $500 million through three mezzanine funds. The firm was founded in 2001 and has offices in Stamford, CT and Boston, MA (www.brooksidemezzanine.com).
HCOA Fitness is an operator of 18 full service fitness centers throughout Puerto Rico (15) and Miami (3). The company’s co-ed family fitness centers offer members an array of strength and cardiovascular equipment, group exercise and cycling classes, and personal training services. HCOA Fitness is headquartered in Miami (www.hcoafitness.com).
Topspin LBO makes control investments in profitable and established lower middle-market businesses. Sectors of interest include consumer products and services, business and information services, health and wellness, food and beverage, retail, and security. The firm is based near New York City in Roslyn Heights, NY (www.topspinlbo.com).
TG Capital, which acquired HCOA Fitness in October 2009, will remain as an equity holder and will be an active partner in the business. “We have enjoyed our association with HCOA over the past four years and are thrilled to partner with Topspin to support HCOA’s future growth,” said Johnathan Robertson, President and Managing Director of TG Capital Corp.
© 2014 PEPD • Private Equity’s Leading News Magazine • 1-17-14