has received debt financing from
Cascadia Capital is pleased to announce it acted as the exclusive financial advisor to Sportime, a leading owner and operator of tennis and sports clubs across the New York Tri-State area, in raising $125 million in debt financing from Comvest Credit Partners (“Comvest”). The capital will be used to refinance Sportime’s existing debt and to support the development of two new facilities: a tennis and pickleball center in Greenburgh, NY, and a golf, turf and sports center in NYC. This funding marks a new phase of growth and expansion for Sportime as it continues to enhance its premier sports offerings.
Founded in 1994, Sportime has grown into a key player in the tennis and sports industry with 17 locations, offering state-of-the-art clubs that include 192 tennis courts, 93 pickleball courts, and a variety of multi-sport, fitness and camp facilities and programs. Known for delivering high-quality sports programming, including the John McEnroe Tennis Academy, Sportime will use this financing to expand its footprint and to further enhance its programs to meet rising demand for recreational and competitive tennis, pickleball, and other sports.
Cascadia Capital played an integral role in this transaction, guiding the financing process from structuring to closing. Leveraging its deep industry expertise, Cascadia managed due diligence, facilitated negotiations, and crafted a financing structure that aligns with Sportime’s long-term strategic goals, ensuring that the company’s growth vision remains at the forefront.
“We are grateful for the partnership with Cascadia Capital throughout this financing process,” said Claude Okin, President and CEO of Sportime Clubs, LLC. “Their expertise, industry knowledge, and strategic guidance were invaluable in helping us to reduce borrowing costs and to secure the resources we need to continue our strategic growth. Cascadia’s dedication to understanding our vision and to structuring a tailored financing solution has set Sportime on an exciting path forward for our employees and customers.”
“We are thrilled to have facilitated this important partnership between Sportime and Comvest,” said Carle Felton, Managing Director at Cascadia Capital. “Sportime has been a valued client, and it’s rewarding to see their growth potential supported by this strategic financing. This transaction underscores our team’s dedication to understanding our clients’ unique needs and crafting tailored financial solutions that drive their long-term success.”
Recent Transactions
This acquisition represents another successful transaction for Cascadia’s Capital Markets Group. Recent transactions include:
provided debt financing for
acquisition of
