FOR IMMEDIATE RELEASE
PRESS RELEASE
JUNE 26, 2025
SYGNUS CAPITAL ARRANGES US$8.6 MILLION PRIVATE CREDIT FACILITY FOR EXPRESS FITNESS’ ACQUISITION OF MIGHTY PILATES IN THE UNITED STATES LANDMARK DEAL DEMONSTRATES SYGNUS’ LEADERSHIP IN PRIVATE CREDIT AND EXPRESS FITNESS’ INTERNATIONAL GROWTH EXPANSION
(Kingston, Jamaica) – Sygnus Capital Limited (“Sygnus”) has successfully arranged a US$8.6 million private credit facility to support the acquisition of Mighty Pilates LLC by Express Fitness Limited. The transaction marks a significant milestone in the regional health and wellness industry, as Express Fitness expands its footprint beyond the Caribbean to the competitive US fitness market.
The financing was provided by Sygnus Credit Investments Limited (SCI) to acquire 65% of the assets of Mighty Pilates, a boutique fitness platform operating premium studios across California’s San Francisco Bay Area and Southern California. Mighty Pilates operates nine high-end studios offering energising, full-body workouts that blend classical Pilates with contemporary fitness practices. Mighty Pilates locations include:
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Northern California: Marin, Presidio Heights, Berkeley, Lafayette, Danville, Russian Hill
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Southern California: Santa Monica, Westwood Village, Ocean Park
“This transaction demonstrates the strength and flexibility of private credit in enabling regional businesses to seize global opportunities. Sygnus is proud to partner with Express Fitness on this game-changing acquisition, supporting them to fulfill a major business goal. We remain committed to empowering Caribbean firms to expand across borders and realise their full potential,” said Gregory Samuels, Senior Vice President and Head of Investment Banking.
The deal underscores Sygnus’ role as a strategic capital partner, delivering customised financing solutions for businesses across the region. Notably, SCI also played a role in the 2019 acquisition of Express Fitness by Norbrook Equity Partners, which continues to support the company’s aggressive growth ambitions.
“Our acquisition of Mighty Pilates marks a pivotal milestone in Express Fitness’ evolution into a global wellness platform,” said Khary Robinson, Executive Chairman of Norbrook Equity Partners, the operator of Express Fitness. “Mighty Pilates is a respected brand with a strong presence in California’s fitness scene, and this strategic acquisition allows us to expand into the dynamic US wellness market with a brand that shares our commitment to community, innovation, and exceptional member experiences. With Sygnus’ support, we’re excited to drive growth and position Express Fitness as a serious player on the international stage.
Founded in California, Mighty Pilates is renowned for offering energising, full-body workouts that blend classical Pilates with contemporary athleticism. The studios are designed to foster inclusive communities led by experienced instructors, attracting a loyal and diverse client base.
With this deal, Express Fitness moves beyond its position as Jamaica’s largest fitness chain and cements itself as a rising regional wellness leader with global ambitions. Express currently operates 11 locations in Jamaica with additional growth planned across the Caribbean and North America. The acquisition aligns with Norbrook’s broader strategy to scale innovative Caribbean businesses into international markets.
Sygnus continues to scale its private credit platform, offering flexible and customised growth capital to mid-market companies across various sectors. The firm’s ability to structure complex, cross-border transactions sets it apart as a trusted partner for ambitious companies seeking transformative growth.
“This landmark acquisition underscores the transformative power of private credit to fuel bold, cross-border expansion,” said Jason Morris, Executive Vice President and Chief Investment Officer at Sygnus Capital, the investment manager for Sygnus Credit Investments. “Through SCI, we are purposefully deploying flexible capital to help Caribbean businesses like Express Fitness seize global opportunities and scale at pace. Our goal is to deliver outsized impact—and this deal is a testament to the strategic role SCI plays in enabling regional champions to thrive on the international stage.”
For more information on Project STAR and its impact, visit projectstarja.com.
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About Sygnus
Sygnus is a leading alternative investment firm in the Caribbean and Latin America, dedicated to driving economic development across the region through creative and innovative financing solutions. By offering a range of investment alternatives, including private credit, real estate financing, private equity and impact investing, Sygnus addresses unmet demands, unlocking capital for growing enterprises and playing a pivotal role in regional economic growth. The cutting-edge alternative investment (AI) platform is fueled by transformative strategies designed to accelerate development across the Caribbean and Latin America. This platform is backed by a team of forward-thinking experts who craft tailored solutions for our clients, complemented by dedicated investment banking and wealth management services. Sygnus also provides specialised services in Puerto Rico through Sygnus Capital PR LLC, formerly known as Acrecent Financial. As of December 2023, the company expanded its offerings, reaffirming its commitment to delivering innovative and personalised financing solutions that foster the island’s economic growth.
