Solidcore
[solidcore] is off the sales block.
The news: Investment firm L Catterton acquired a majority stake in the reformer-based boutique, valuing the company between $600M to $700M.
Renewed strength. Known for intense 50-minute classes, [solidcore] counts ~130 corporate-owned studios in 25 states.
Leading a new era of athletic-style Pilates, the company accelerated post-pandemic.
- 2020: [solidcore] shuttered all 70 studios and laid off staff during COVID.
- 2021: Betting on a rebound, VMG Partners acquired a minority stake in the company.
- 2023: It secured funding from PE firm Kohlberg & Company as founder Anne Mahlum sold her stake.
Now, with a prolific health & fitness investor at the helm, the brand will pursue domestic and international growth.
For its part, L Catterton remains bullish on the sector, signing recent megadeals with supplements maker Thorne and fitness technology company EGYM.
Trending. Giving chase, competitors are lining up at the intersection of strength and Pilates.
- Australia’s STRONG Pilates is setting up a US headquarters to expand its footprint.
- F45 Training is scaling VAURA Pilates and FS8 concepts simultaneously.
- Miami-born JETSET is targeting 550+ global studios and will enter Australia this year.
Punchline: Rebranding to emphasize the workout’s “transformative” potential, [solidcore] is in pole position for a modality it helped create. Growing beyond boutique enthusiasts, its new owner will try to engineer a global movement.
