Gainline Capital Partners (“Gainline”), a Stamford, Connecticut-based private equity firm, today announced the closing of a single-asset continuation fund (the “Fund”) to build upon its partnership with Core Health & Fitness, LLC (“Core” or the “Company”), a global producer and distributor of commercial fitness equipment. The transaction provides existing investors with a liquidity option while raising follow-on capital to support Core’s continued growth and global expansion. The Fund was anchored by StepStone Group (“StepStone”) as sole lead investor, with additional commitments from syndicate investors and Gainline’s existing limited and general partners.

Founded in 1992 and headquartered in Vancouver, Washington, Core has become one of the most recognized platforms in the fitness industry. The Company designs, manufactures, sells, installs, and services high-quality equipment across a portfolio of iconic, globally recognized brands, including StairMaster, Nautilus, Star Trac, Schwinn, Throwdown, Wexer and Gym Rax. As one of only a handful of platforms worldwide capable of equipping all four corners of the gym with a diversified product portfolio spanning strength, main floor cardio, group fitness and HIIT, Core serves health clubs, boutique studios, hotels, multifamily facilities, and corporate wellness centers across more than 75 countries. Its vertically integrated model and iconic brands have made Core a trusted partner to operators around the world.

“We are incredibly optimistic about what lies ahead for Core, and we are deeply grateful to our investors, both longstanding and new, for their continued confidence in Gainline and Core,” said Rick Sullivan, Managing Partner of Gainline. “We are excited to partner with StepStone as we enter this next chapter and help people around the world live healthier, more active lives.”

“Core’s global reach, suite of brands, and strong management team make it the kind of high-quality investment we seek to back,” said Adam Johnston, Partner at StepStone Group. “We look forward to supporting Core’s continued growth in partnership with Gainline.”

William Blair served as exclusive financial advisor to Gainline and Core. Willkie Farr & Gallagher LLP acted as legal advisor to Gainline. Proskauer Rose LLP served as legal advisor to StepStone.

About Core Health & Fitness

Core Health & Fitness is a global, vertically integrated commercial fitness equipment platform, home to a portfolio of iconic, globally recognized fitness brands. For more information, please visit www.corehandf.com.

About Gainline Capital Partners

Gainline Capital Partners is a Stamford, Connecticut-based private equity firm focused on investing in high-quality, founder- and family-owned middle-market companies. Gainline seeks to serve as the first institutional capital partner to businesses with strong fundamentals, providing the operational, financial, and strategic resources needed to scale beyond founder-led constraints and drive long-term value creation. For more information about Gainline Capital Partners, visit www.gainlinecapital.com.

About StepStone Group

StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. As of June 30, 2026, StepStone was responsible for approximately $913 billion of total capital, including $245 billion of assets under management. StepStone’s clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes. For more information, visit www.stepstonegroup.com.

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