Published By bizjournals.com
D.C.-based solidcore, the boutique fitness brand in national expansion mode, has landed a new investor to continue that growth.
Salt Lake City-based Peterson Partners, an investment management firm with a heavy presence in consumer brands, had made a “strategic investment” in solidcore that will fund the company’s expansion “into new markets and increase its penetration in existing markets,” according to a release.
Details of Peterson’s investment were not released.
“We were approached by many investors, but Peterson brought a unique blend of experience spanning the studio fitness, consumer branding and real estate sectors,” Anne Mahlum, solidcore’s CEO and founder, said in the release. “Their focus on data-driven expansion and performance is a great fit for solidcore’s disciplined growth model.”
Mahlum previously raised between $1 million and $2 million from David Grissen, an executive with Marriott International Inc. (NASDAQ: MAR). As part of that deal, which we reported in early 2016, Grissen will own 20 percent of all future solidcore locations.
Read the full article here.