- Fusion Lifestyle has agreed a £13m refinancing deal with NatWest
- Refinancing secures the leisure operators future
- The charity will continue to develop its specialism as the expert operator of heritage facilities
Fusion Lifestyle, the charitable sports and leisure management organisation, has today announced it’s reached a refinancing deal worth £13m set to support its plans into 2024 and beyond. The terms of the deal have been finalised with NatWest, cementing Fusion’s financial stability, and will enable Fusion to build on its facilities, as well as brand and infrastructure.
Fusion Lifestyle is the leading operator of heritage buildings, operating 6 of the country’s oldest Lidos, with the historical Newcastle City Pool, and the recently reopened Cleveland Pools in Bath, as flagship sites within its 66-site-strong portfolio. The operator is hoping to further develop this specialism and work closely with Historic England over the coming months.
With two capital schemes, both in excess of £10m, planned for early 2024, Fusion will be starting the year with a show of strength. This includes the live refurbishment and new build of Kingsmead Leisure Centre delivering over £11m of redevelopment work across three facilities in Canterbury.
Fusion has also made two new appointments to the executive board following the successful refinancing loan. Richard Allan and Helenor Rogers have been appointed to the new roles of Director of Operations and Commercial Director respectively.
Anthony Cawley, CEO of Fusion Lifestyle, said: “Like many others in the industry, following Covid we needed to secure a refinancing deal in order to continue business as usual.
“This deal gives us a solid financial base to pursue our plans for 2024, invest in our centres and ensure Fusion can deliver moving forward. We believe this marks a fresh start for Fusion with a strengthened management team, we’re excited about the plans we’ve put in place and feel confident in our future.”