L Catterton to acquire fitness studios network [solidcore] | PE Hub

• [solidcore] was founded in 2013
• Headquartered in Greenwich, Connecticut, L Catterton invests in the consumer sector
• Founded in 1989, L Catterton is currently managing approximately $35 billion of equity capital

L Catterton has agreed to acquire a majority stake in [solidcore], a US-based network of fitness studios. The sellers are VMG Partners, Kohlberg & Company, and Peterson Partners. No financial terms were disclosed.

On the deal, Marc Magliacano, a managing partner in L Catterton’s Flagship Fund, said in a statement, “As an experienced investor in the fitness category, we recognize that there are few boutique studio concepts that have the consumer engagement, effective programming, and operational capabilities that [solidcore] has demonstrated, resulting in its enduring growth. Increasingly, consumers understand that movement is medicine, with daily strength training as a key part of their regimen for living a longer, healthier life.”

[solidcore] was founded in 2013.

Headquartered in Greenwich, Connecticut, L Catterton invests in the consumer sector. Founded in 1989, L Catterton is currently managing approximately $35 billion of equity capital.