Solidcore
Solidcore is weighing its options.
The news: The Pilates studio operator has enlisted advisors to explore strategic options, including a possible sale worth more than $750M, per Reuters.
Solid footing. Known for its 50-minute reformer-based classes, Solidcore counts 100+ locations in 25 states.
Leading the Pilates boom, its low-impact, full-body workouts are fueling growth.
- 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.
For 2024, Solidcore is projecting $50M in EBITDA on $150M of revenue. Scaling up, the company plans to open 25 studios this year while pursuing international expansion, with the goal of reaching 250 global studios by 2028.
Trending. Giving chase, Pilates brands are limbering up to capitalize on growing demand.
- Australia’s STRONG Pilates is setting up a US headquarters to expand its footprint.
- F45 Training unveiled VAURA Pilates in NYC and FS8 in Austin, with franchise plans.
- Club Pilates entered the UK and France last year, part of 800 clubs on four continents.
Punchline: Now that IRL fitness is fully back, successful boutique brands are plotting their next move, as investors look to cash in their chips. Not alone, Solidcore joins Barry’s in testing the waters, with the industry waiting to see who sets the market.
