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Solidcore Founder Anne Mahlum Sells Company

Solidcore Founder Anne Mahlum Sells Company

Solidcore founder
Mahlum founded the Pilates-inspired boutique fitness company in 2013, which now has over 100 locations in 25 states

Solidcore founder Anne Mahlum is leaving the Pilates-inspired boutique fitness company she started a decade ago and grew to become a household name. 

Mahlum has agreed to sell all her shares in the company to investment firm Kohlberg & Company for an undisclosed amount, Solidcore announced on Tuesday. With the deal, Kohlberg and existing minority investor VMG Partners will take over as Solidcore’s new majority owners. 

Solidcore said that as part of the deal, Mahlum will award “millions of dollars” to her team through an incentive pool she created in 2018. All full-time employees who have been with the company for at least a year prior to the transaction will receive a portion of the proceeds.

“Solidcore’s success is far from just my own, and it wouldn’t be where it is today without a lot of people’s commitment,” Mahlum said of that decision. “Sharing some of the financial upside with my team is just the right thing to do.”

Mahlum founded Solidcore in 2013 in Washington, D.C. The fitness brand offers what it describes as a 50-minute “high-intensity, low-impact full-body workout on a Pilates-inspired reformer” under blue neon lights. Its workouts have been popular on social media, garnering millions of views on TikTok and earning Solidcore the nickname “Pilates on steroids.”

Amid strong growth, VMG Partners acquired a minority stake in Solidcore in early 2021. At that time, Mahlum had raised over $70 million from institutional investors, according to reports.

Solidcore, which brands itself as [solidcore], currently has over 100 studios in 25 states.

Bryan Myers, who took over as Solidcore CEO in April 2021, will continue in that role.

“Bryan’s leadership is one of the main reasons I am confident in selling my business,” Mahlum said. “I’ve worked with him for more than five years, and you would be hard pressed to find a person with more integrity and intelligence than Bryan.”

Mahlum first shared the news of her decision to sell in an email sent to Solidcore subscribers on Tuesday afternoon. 

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“While I am no longer the owner of [solidcore], I will always be this company’s founder and you will continue to find me sweating under the blue lights because creating the strongest version of myself is a lifelong journey,” Mahlum wrote in the email.

Mahlum will still be around in the boutique fitness space.

In October, the Solidcore founder announced she had raised $5 million for her new health and wellness venture, Ambition

The boutique-style fitness studio recently opened and currently has three locations in Manhattan and Brooklyn.

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