Reorganization of Verona Debt Structure

Sector(s)
Consumer
Deal type
Debt Advisory
Date
July 2019
Countries involved
France

Client

Verona is a French group specialized in low price fitness gyms in France. It operates through its brands Neoness (33 clubs) and Episod (4 "experienced-oriented" clubs)

Deal

Capitalmind assisted Verona in the reorganization of its financial structure with a structured senior debt: TLA/TLB underwritten by 4 banks and TLC by Zencap Asset Management

Lead team

  • Jean-Arthur Dattée

    Jean-Arthur Dattée

    Partner France
  • Kilian de Gourcuff

    Kilian de Gourcuff

    Partner France
  • Benjamin Pasquet

    Benjamin Pasquet

    Manager France

What we did

Capitalmind assisted the  Verona Group all along the debt refinancing process: marketing materials preparation, business plan modelling, organization of competitive processes with relevant private debt funds and banks, negotiation, execution support during due diligences phases, and negotiation of the legal documentation.

About the deal

Created in 2007, Verona is a leading French player in the sports/well-being universe and pioneer of the “new fitness”. First of all, by its ability to finally make the practice of fitness accessible, by lowering the price barrier and by introducing a new state of mind, more open. Then, by its passion for innovation and its desire to create new sports concepts, in response to new expectations. Today Verona includes the brands Neoness (fitness) and Episod (sports studio).

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