DC-Based Fitness Sensation Solidcore Sold to NY Investors
By Keith Loria April 20, 2023 5:17 pm
reprints
One of the early entrants in the wave of specialty fitness brands is growing up.
A decade after founding hardcore pilates studio Solidcore in Washington, D.C., founder Anne Mahlum is handing over the reins. Mahlum is selling all of her shares to private equity firm Kohlberg & Company for an undisclosed amount, and will share some of the proceeds with 141 eligible employees.
The studio, typographically styled as [solidcore], has grown to 100 locations across 24 states, roughly half of which are concentrated in the Northeast and D.C. region, including nine in the District, eight in Northern Virginia and five in Maryland.
“Creating and scaling [solidcore] has been one of the greatest joys of my life,” Mahlum said in a prepared statement. “I’m wildly grateful to every single team member, client and investor, who have contributed to building this incredible company that has enriched so many people’s lives, including mine.”
Bryan Myers, who was named CEO of the company in April 2021, will remain in the role as part of the transition.
“Anne has been a formidable business leader, partner and inspiration for our entire team,” Myers said in a prepared statement. “We are all stronger versions of ourselves thanks to Anne’s vision and the investors who continue to believe in the strength of Solidcore’s business model. I feel privileged to continue to lead this team as we tackle this next chapter of growth and expansion.”
But Mahlum is not getting out of the fitness game altogether. Last month she opened Ambition, a boutique fitness studio in Brooklyn Heights that offers another take on hardcore yoga and conditioning. Two more locations are slated to open in Manhattan this summer.
Requests for additional comment from Mahlum and Solidcore were not immediately returned.
Keith Loria can be reached at Kloria@commercialobserver.com.
