LVMH-Backed L Catterton Flexes Fitness Muscle with Solidcore Acquisition

L Catterton, the private equity firm renowned for its investments in high-growth consumer brands and backed by luxury conglomerate LVMH, has struck a deal to acquire a majority stake in Solidcore, the fast-growing pilates studio chain. The acquisition, valued at between $600 million and $700 million, underscores L Catterton’s confidence in the booming fitness and wellness sector.

Solidcore, known for its intense 50-minute workouts on its signature “sweatlana” reformer machines, has rapidly gained popularity since its founding in 2013. The company currently operates approximately 130 studios across 25 states and the District of Columbia, with ambitious plans for international expansion.

“Consumers are increasingly prioritizing health and wellness, recognizing the importance of strength training and fitness,” said Marc Magliacano, a managing partner at L Catterton’s Flagship Fund. “Solidcore is exceptionally well-positioned to capitalize on this trend.”

The acquisition aligns with L Catterton’s extensive experience in the fitness industry. The firm’s portfolio boasts an impressive roster of fitness-focused companies, including Equinox, Tonal, iFIT, and ClassPass. Earlier this week, L Catterton led a significant funding round in EGYM, a connected fitness startup, further solidifying its presence in this rapidly evolving market.

“L Catterton’s deep understanding of the consumer landscape, combined with their successful track record in scaling fitness brands, makes them the ideal partner to support Solidcore’s next phase of growth,” said a Solidcore representative.

This acquisition comes at a time when the fitness and wellness industry is experiencing a robust post-pandemic rebound. As consumers return to in-person fitness routines, gym chains and boutique studios like Solidcore are witnessing a resurgence in demand.

With L Catterton’s backing, Solidcore is well-positioned to accelerate its growth trajectory, expand its footprint both domestically and internationally, and solidify its position as a leader in the dynamic pilates and fitness market.