FBC represented Holmes Place International Ltd. in receipt of credit facility and simultaneous equity investment

By Avraham Well & Itiel Ben-Haim | Sep 2016 | Transaction

FBC represented Holmes Place International Ltd. (“Holmes Place Israel”) with respect to receipt of a NIS 45M credit facility from The Phoenix Insurance Company Ltd. (and related entities), and both credit lines and a long term loan in the aggregate amount of NIS 45M from Bank Mizrahi Tefahot Ltd., together with a simultaneous equity investment by Poalim Ventures Ltd. and additional investors in the aggregate amount of NIS 45M.
 
Holmes Place Israel is using the funds raised for its purchase of the Go-Active chain of fitness clubs in consideration of NIS 95M.
 
Holmes Place Israel currently operates 21 health and fitness clubs under the “Holmes Place” brand name all over Israel, and following the consummation of the transaction shall operate 33 health and fitness clubs overall.