Gainline Capital Partners has closed a single-asset continuation fund for Core Health & Fitness, LLC, a Vancouver, Washington-based producer and distributor of commercial fitness equipment, for undisclosed terms. The transaction provides existing investors with a liquidity option while raising follow-on capital to support Core’s continued growth and global expansion.

The fund was anchored by Step Stone Group as sole lead investor, with additional commitments from syndicate investors and Gainline’s existing limited and general partners. Core designs, manufactures, sells, installs, and services equipment across a portfolio of brands, including Stair Master, Nautilus, Star Trac, Schwinn, Throwdown, Wexer and Gym Rax.

Core serves health clubs, boutique studios, hotels, multifamily facilities, and corporate wellness centers across more than 75 countries. “We are incredibly optimistic about what lies ahead for Core, and we are deeply grateful to our investors, both longstanding and new, for their continued confidence in Gainline and Core,” said Rick Sullivan, managing partner of Gainline. “We are excited to partner with Step Stone as we enter this next chapter and help people around the world live healthier, more active lives.”

William Blair served as exclusive financial advisor to Gainline and Core. Willkie Farr & Gallagher LLP acted as legal advisor to Gainline. Proskauer Rose LLP served as legal advisor to Step Stone. Core was founded in 1992.