Solid core is considering options.
news: The Pilates studio operator has enlisted advisers to explore strategic options, including a potential sale worth more than $750 million, according to Reuters.
Solid footing. Known for its 50-minute reformer-based classes, Solidcore has more than 100 locations in 25 states.
The Pilates boom is being driven by low-strain, full-body training that promotes growth.
- 2020: Solid Core closes all 70 studios and lays off staff due to the coronavirus pandemic.
- 2021: VMG Partners acquires a minority stake in the company, betting on recovery.
- 2023: Founder Ann Mahlum sells shares and secures funding from PE firm Kohlberg & Company.
In 2024, Solidcore expects to generate EBITDA of $50 million on revenue of $150 million. The company plans to open 25 studios this year as it scales and pursues international expansion, with a goal of increasing its global footprint to 250 by 2028.
trend. Pilates brands on the hunt are toning their bodies to take advantage of the increased demand.
- Australia’s STRONG Pilates is expanding its footprint by establishing a headquarters in the United States.
- F45 Training announces VAURA Pilates in New York City and FS8 in Austin with franchise plans.
- Club Pilates entered the UK and France last year, becoming part of 800 clubs across four continents.
ending: Now that IRL Fitness is back in full force, successful boutique brands are planning their next moves as investors look to cash in on their chips. Solid Core is not alone, it has joined Bally’s and the industry is waiting to see who will set the market.
