Private equity company, L Catterton, is acquiring a majority stake in Pilates operator, Solidcore, from VMG Partners, Peterson Partners and Kohlberg and Company, valuing the company at US$700 million.

The L Catterton investment will support new growth opportunities in both existing and new markets.

Delivering 50-minute classes on a proprietary reformer machine called Sweatlana, Solidcore says its workouts have been “scientifically designed to break down muscles to failure so they build back stronger.”

Currently there are 130 locations across 25 US states and the District of Columbia, with a significant presence on the east coast. Last year HCM reported that the company hit a milestone of 100 studios and took on strategic funding from Kohlberg and Company. At the same time, president and CEO, Bryan Meyers, said Solidcore wanted to hit 250 studios globally within three to five years.

L Catterton is an experienced investor in the wellness and fitness markets, with a diversified portfolio.

Earlier this week, it announced a US$200 million investment in Egym. Current and past investments include Equinox, SoulCycle, CorePowerYoga, Xponential Fitness, Tonal, Hydrow, BodyTech, iFit/NordickTrack, ClassPass, Peloton, Flywheel and Pure Barre.

Marc Magliacano, managing partner at L Catterton’s Flagship Fund praised Solidcore’s consumer engagement, effective programming, operational capabilities and enduring growth. “Increasingly, consumers understand that movement is medicine, with daily strength training a key part of their regimen for living a longer, healthier life," he said.

“Solidcore fits squarely into this long-term evolution and we believe there's a significant runway ahead for expansion both domestically and internationally as more consumers discover the category and its long-term benefits.”

Myers says: “As we considered potential partners, L Catterton quickly rose to the top of the list given our aligned values and its deep industry knowledge that gives the company a unique ability to accelerate our growth and success.”

Reformer Pilates continues to be one of the hottest trends in the industry, with other announcements this week including Northern Ireland company, Reform RX, receiving investment and contract operator, Everyone Active, launching its first Reformer studio.