Golub Capital announced that as administrative agent, sole lead arranger and sole bookrunner, it provided a GOLD financing and equity co-investment to Newfit, in conjunction with LNK Partners' investment in the business. GOLD financings are Golub Capital's One-Loan Debt facilities.

Newfit operates six low price, high amenity fitness clubs as a licensee of the Fitness Connection brand. In 2013, Golub Capital also invested alongside LNK and management in Fitness Connection. Combined, the two businesses operate 33 low price, high amenity Fitness Connection locations in Texas, North Carolina and Nevada. Fitness Connection's management team also participated in the investment in Newfit.

"We are thrilled to have been able to support LNK Partners and Fitness Connection management in their investment in Newfit," said Greg Cashman, Managing Director at Golub Capital. "We have enjoyed partnering with LNK on this transaction, and, since 2013, on their investment in Fitness Connection. We look forward to continuing to work alongside the team at LNK to grow both businesses in new and existing markets."

"Golub Capital continues to exceed our expectations with curated, flexible and reliable financing," said Kayvan Heravi, Partner at LNK Partners. "Their team really understands multi-unit retail businesses and how to finance their growth. We look forward to partnering with the Golub Capital team again."

Golub Capital's Middle Market Lending group provides financing for middle market, private equity-backed transactions with hold positions of up to $300 million and is an arranger of credit facilities up to $750 million.