Los Angeles, CA – Theragun®, Inc. d/b/a Therabody™ (“Therabody” or the “Company”) has announced the successful closing of a debt refinancing with JPMorgan Chase (“JPMorgan”). FocalPoint Securities, LLC (“FocalPoint”) served as Therabody’s exclusive financial advisor on the transaction.
Therabody is a global innovator of wellness technology and the creator of the world’s first-ever percussive therapy device, Theragun, which is used to treat muscle tension, accelerate recovery, and improve athletic performance. Since its founding, Therabody has evolved from a single device into an ecosystem of comprehensive, industry-leading wellness products that are at the intersection of fitness & recovery and pain management. To date, the Company released its fourth generation of Theragun devices, launched TheraOne™, introduced Therabody University, the Company’s educational division, and acquired RP Sports and clinical Pneumatic Compression Technology, RecoveryPump®.
Therabody’s solutions are relied on by more than 250 professional sports teams and countless weekend warriors and fitness enthusiasts across the globe for training, recovery, and injury prevention, and are also used by medical professionals and consumers for the treatment of pain, injuries, and various ailments. The Company’s products are sold through eCommerce channels and commercial retailers, including some of the largest big-box and sporting goods retailers, as well as highly popular specialty retailers, and are available in more than 60 countries.
“We are excited to work with JPMorgan Chase during this critical growth phase of our Company,” said Benjamin Nazarian, CEO of Therabody. “FocalPoint ran a targeted and efficient process that provided Therabody with multiple options and structures to choose from and seamlessly led us to a successful closing. This refinancing will provide us with the flexibility we need to execute our strategic growth initiatives.”
Rob Deutschman, Managing Director at FocalPoint, commented, “Therabody has built an impressive business that is focused on providing a whole body wellness solution for its customers. FocalPoint is pleased to have assisted the Therabody team in accessing refinancing alternatives as it enters the next phase of its business growth and brand evolution. This transaction marks yet another post-COVID financing transaction for FocalPoint’s Capital Markets team, and highlights our ability to get results, even in the most challenging of financing environments.” Clay Bryan, Managing Director at FocalPoint, added, “Therabody has strong credit fundamentals and will benefit from a scalable low-cost credit solution in this transaction. We are excited to see what is yet to come from such an extraordinary growth engine in the tech-wellness category.”
Theragun® was created in 2008 and officially launched in 2016 by chiropractor Dr. Jason Wersland after suffering a life-altering injury. Building on over a decade of research and development, the brand’s gold standard Theragun Percussive Massage Therapy devices use proprietary state-of-the-art technology to effectively reduce muscle tension, accelerate recovery, and improve performance. Theragun is the most trusted percussive massage therapy device among professional sports teams, professional athletes, celebrities, world-renowned trainers, physical therapists, and people in more than 60 countries. In 2020, Theragun rebranded to Therabody™, continuing its mission to provide natural wellness solutions through innovation in the percussive massage therapy space, developing and introducing the first of its kind Smart Percussive Therapy™ technology, seamlessly connecting to the Therabody app via Bluetooth®, as well as launching its own U.S. grown and USDA Certified Organic CBD line, TheraOne. For more information on Therabody’s latest products and to stay up to date on company news, visit www.Therabody.com and follow the brand on social media via Instagram, Facebook, and Twitter. The Therabody app is available for download for iOS on the Apple App Store and for Android on the Google Play Store.
About FocalPoint Partners
FocalPoint is an independent investment bank specializing in mergers and acquisitions, private placements (both debt and equity), financial restructurings, and special situation transactions. With offices in Los Angeles, Chicago, New York, and Shanghai, the firm provides global advisory services to a variety of middle market clients. With our recent growth, FocalPoint offers clients one of the largest teams in the financial community wholly dedicated to middle market financing. To learn more, visit focalpointllc.com and follow us on LinkedIn and Twitter.
Please contact Rob Deutschman, Managing Director, at 310-405-7028; Clay Bryan, Managing Director, at 310-405-7085; or Gayane Kirakosyan, Director, at 310-405-7002, for more information regarding this transaction.