Fusion refinances, enters ‘new phase of operations’

Fusion Lifestyle, the charitable sports and leisure management organisation, has reached a refinancing deal worth £13m with NatWest. The agreement will support its plans into 2024 and beyond in what the company calls “a new phase of operations”.

Fusion said it will use the deal to invest in its facilities, as well as develop its brand and wider infrastructure.

Fusion has two major capital schemes in its pipeline for early 2024, both of which are in excess of £10 million. One of these is the refurbishment and new build of Kingsmead Leisure Centre in Canterbury.

Fusion currently operates 66 sites, including six of the country’s oldest Lidos – one of which is the historical Newcastle City Pool.

Following the successful refinancing loan, Fusion has made two new appointments to its executive board, with Richard Allan being named Director of Operations and Helenor Rogers Commercial Director.

Anthony Cawley, CEO of Fusion Lifestyle, said: “Like many others in the industry, following the COVID-19 pandemic 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 facilities and 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.”