PRESS RELEASE:
ATLANTA–(BUSINESS WIRE)–August 11, 2015–
With a $5.3 million recapitalization and growth capital transaction orchestrated by financial advisory firm Sterling Gabriel, Inc., MOSSA took another big step towards its goal to get 50 million people worldwide moving to its exercise routines by 2033.
Sterling Gabriel helped MOSSA – the highly respected developer of professional, enjoyable group fitness and small group workouts in the health and fitness industry and consumer workouts for Microsoft’s Xbox One – restructure its balance sheet to increase capital and support organic growth, including major plans for expansion. Currently, MOSSA’s products are available in 35 countries. Both companies are based in Georgia.
The financial transaction, which closed August 6, was completed without diluting any of MOSSA’s equity, CEO Rich Boggs explained.
“We couldn’t have even come close to this on our own,” Boggs said. “Sterling Gabriel is very good at financial engineering. They’re looking out for our company’s best interests and are our financial advisors.”
Every Sterling Gabriel financial advisory client receives consulting and strategy expertise – a service the firm also offers on a stand-alone basis.
“Every transaction we complete is relationship-driven,” said Terald Melton, Managing Director of Sterling Gabriel. “We work to understand every aspect of our clients’ business – what they do, their products, services, financials, operations, management team, where they’re headed, and their long-term goals – and then we tailor a plan to help them reach these goals.”
Melton is passionate about the impact of his company’s and clients’ projects on consumers and communities.
“There are many benefits of the MOSSA transaction beyond the numbers – their mission to get more people moving, the importance of exercise, the health benefits,” Melton said. “We could relate to MOSSA’s core values and that, for us, is important.”
“Sterling Gabriel is completely unique in the banking business,” Boggs said. “We told them our goals and they said, ‘There are a number of ways we can do this.'”
The senior bank financing was provided by BankUnited, Miami Lakes, Fla.
Over the past five decades, MOSSA, formerly Body Training Systems, has inspired millions of people to move and increase their health and happiness through its health club ownership, introduction of The Original STEP, and by providing professionally developed group fitness and small group workouts for the fitness industry and consumer workouts for Microsoft’s Xbox One.
Atlanta-based Sterling Gabriel, Inc., formerly Ivy Ridge Capital Consulting, Inc., is a financial advisory, consulting and strategy firm that serves lower-middle market businesses (with up to $150 million in annual revenues).
View source version on businesswire.com: http://www.businesswire.com/news/home/20150811006214/en/
PCI
Samantha Blieden, 312-558-1770
sblieden@pcipr.com
VB's research team is studying web-personalization... Chime in here, and we’ll share the results.