Largest U.S. Planet Fitness Operator Seeks $750M To Refinance Loan: Report
HAMPTON, NH — The largest operator of Planet Fitness gyms in the United States is in private talks with lenders to acquire $750 million to refinance loans next year, according to a report on Bloomberg.com.
United FB, owned by American Securities LLC, a Texas-based private equity firm, runs more than 190 clubs with 1.2 million members. The company has been actively seeking direct lenders to refinance its loan holdings, the report stated. American Securities has $525 million due in December 2026, which was used to purchase United FB in nearly five years ago.
The report said United FP’s credit rating had “come under pressure” during the past few years with a ratings service giving the company a negative outlook. The Bloomberg report stated the rating service said “the firm had thin liquidity and would likely draw from its revolver.”
The company is the largest operator and developer of gyms under the Planet Fitness brand, according to the report.
Read the full report here.
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