Churchill Serves as Administrative Agent & Sole Lead Arranger for Senior Secured Facility to Support Centre Partners’ Acquisition of One World Fitness

New York, NY, April 9, 2019 – Churchill Asset Management (“Churchill”) today announced that it served as Administrative Agent and Sole Lead Arranger for a senior secured facility to support the acquisition of One World Fitness (formerly known as New England Fitness) by Centre Partners.

Founded in 2006, One World Fitness is a leading franchisor and operator of 18 Planet Fitness clubs across New Jersey and Massachusetts. Planet Fitness, one of the largest gym concepts in the U.S. with over 12 million members, prides itself on providing a high-quality experience at an exceptional value in a welcoming, non-intimidating environment.

“One World Fitness is one of the premier Planet Fitness franchisees and has a proven track record of new club development,” said Randy Schwimmer, Senior Managing Director and Head of Origination & Capital Markets at Churchill. “We believe the company’s strong management team, combined with support from a highly credible franchisor and Centre Partners, a deeply experienced private equity sponsor, will allow the business to successfully execute its organic and acquisition driven growth strategy.”

While the Churchill team has a longstanding relationship with Centre Partners, this is the first transaction completed together since joining Nuveen in 2015. Founded in 1986, Centre Partners is a leading middle market private equity firm focused on making control investments in North American businesses in the consumer and healthcare industries.

“Churchill structured an attractive financing solution for this transaction, tailored to our needs, and always acted quickly and decisively,” said Bruce Pollack, Managing Partner at Centre Partners, adding, “We look forward to our continued partnership with Churchill.”

About Churchill Asset Management

Based in New York, Churchill Asset Management LLC is a leading provider of senior and unitranche debt financing for middle market companies, particularly those backed by top-tier private equity sponsors. Churchill has $6.4 billion of committed capital under management and has broad experience in all aspects of the middle market financing business, including structuring, credit analysis, syndication, and deal monitoring and oversight. More information can be found at

About Centre Partners

Founded in 1986, Centre Partners is a leading middle-market private equity firm focusing on the consumer and healthcare sectors, with offices in New York and Los Angeles. Centre has invested over $2 billion of equity capital in more than 80 transactions since its inception. Centre seeks to partner with founders and management teams to build exceptional businesses. Centre Partners provides management teams access to its unique resources, which includes an extended network of experienced and proven operating executives. Additional information is available at


This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Financial professionals should independently evaluate the risks associated with products or services and exercise independent judgment with respect to their clients.

Churchill Asset Management is a registered investment advisor and majority-owned, indirect subsidiary of Teachers Insurance and Annuity Association of America.

Investments in middle market loans are subject to certain risks. Please consider all risks carefully prior to investing in any particular strategy. These investments are subject to credit risk and potentially limited liquidity, as well as interest rate risk, currency risk, prepayment and extension risk, and inflation risk.


Churchill Asset Management
375 Park Avenue, 9th Floor
New York, NY 10152
(212) 478-9200

Subscribe to our premier middle market newsletter: Subscribe

Copyright © 2024 Churchill Asset Management LLC. All Rights Reserved. | Privacy Notices

The material is for informational purposes only and should not be regarded as a recommendation or an offer to buy or sell any product or service to which this information may relate. Certain products and services may not be available to all entities or persons. Past performance does not guarantee future results. Please note investments in middle market loans are subject to various risk factors, including credit risk, liquidity risk and interest rate risk. Churchill Asset Management LLC is a majority-owned subsidiary and member of the TIAA group of companies.