The company is receiving a lot of attention from investors due to both its success and its business model, but Mahlum has kept her shares close to her chest until finding the perfect person – David Grissen, Group President of Marriott International.
"I have known Dave for years. He was on the Board of Back on My Feet, the nonprofit I started and ran for six and a half years. We work well together, he brings a lot of experience to the table from his work with Marriott and we're on the same page about money and how to grow the company."
Grissen originally invested in future studios, but he and Mahlum decided it made more sense to finalize a deal for the entire company resulting in 21 percent ownership for Grissen. The deal terms give [solidcore] a valuation between $25 and $30M. Mahlum is currently entertaining another investment that is could potentially double the valuation of the company.
[solidcore] sets itself apart from any other full-body workout due to the use of a specific [solidcore] spring-based machine offering 2-300 pounds of tension. The [solidcore] method emphasizes slow and controlled full-body movements with constant tension, forcing muscles to rebuild in a stronger and more sculpted way. This intense workout is led by highly skilled certified [solidcore] coaches leading clients through hundreds of moves and resistance options to consistently challenge the body, meaning every workout is different which keeps the body guessing. The small class sizes of no more than 14 people means each client receives personalized attention and coaches are able to manage different fitness levels in class. Clients come from all walks of life, from professional athletes and weekend warriors, to stay-at-home moms and CEO's. www.solidcore.co.
Nicole Schade/TAA PR
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