Solidcore
Pilates-inspired fitness studio chain · 179+ locations · US: 30+ states
Solidcore's founder sold out to private equity in April 2023, and that firm flipped it to another one 17 months later. Instructors average about $40K a year on per-class pay that skips training time.
The Big Picture
Solidcore has been sold twice since 2023: founder Anne Mahlum sold her remaining stake to Kohlberg & Company in April 2023, which brought what she made selling down the company to $88.4 million across three deals, and Kohlberg flipped it to L Catterton 17 months later at a $600–700 million valuation backed by a $325 million credit facility. Instructors average about $40K a year on a per-class pay model that doesn't compensate training or setup time. The company answers to L Catterton and a 250-studio growth target.
The Dirty Details
Ownership
Acquired a majority stake in Sept 2024 for ~$600–700M, taking over from Kohlberg & Company.
L CattertonPrivate Equity
L Catterton is the world's largest consumer-focused private equity firm, 40%-owned by luxury conglomerate LVMH and the Arnault family, with portfolio brands including Birkenstock. Its current and former holdings on Ferret span dining, fitness, and clothing, including two it has since sold (CorePower Yoga and Everlane).
Assets under management: ~$40B (2026)
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Company data last updated July 2026
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