Aquiline Capital Partners LLC, a private investment firm based in New York and London with $9.2 billion in assets under management, announced the sale of its portfolio company In-Shape Solutions, a chain of full-service health and wellness centers that operate under the In-Shape Health Clubs brand across California. In-Shape will be combined with California Family Fitness to form In-Shape Family Fitness.
The sale follows Aquiline’s initial investment in the company in November 2020 through its Aquiline Credit Opportunities strategy. Aquiline initially provided liquidity to the Company’s existing lenders and then worked with the company as it engaged in a comprehensive restructuring to respond to the challenges of the COVID-19 pandemic. Alongside In-Shape founder and former CEO Paul Rothbard, Aquiline led and funded the restructuring and provided strategic and operational support that played a key role in enabling the company to emerge from bankruptcy in 2021 as a revitalized business, in which Aquiline owned a meaningful stake.
“Very early on, our team saw the value and potential at In-Shape and worked with management to develop a bespoke capital solution and thoughtful strategic plan focused on enhancing profitability that enabled them to address the challenges of COVID-19, achieve their goals and emerge as a stronger business,” said Tim Gravely, the partner who leads Aquiline Credit Opportunities. “We were pleased to be able to successfully execute that strategy in a manner that delivered value for all stakeholders including investors, the company and its customers and communities. We look forward to following the success of In-Shape Family Fitness.”
About Aquiline Capital Partners LLC
Aquiline Capital Partners, founded in 2005, is a private investment firm based in New York and London that invests across financial services and technology. The firm had $9.2 billion in assets under management as of September 30, 2022. For more information about Aquiline, its investment professionals, and its portfolio companies, please visit www.aquiline.com.