WASHINGTON, May 24, 2016 /PRNewswire/ -- [solidcore], the 50-minute total-body workout done entirely on a resistance-based machine, announce an increase in investment and is rapidly growing to become a national company by the end of 2016. The first studio opened in Washington, D.C. in November 2013 and currently has 10 locations across the DMV region and is frequented by many serious athletes and fitness enthusiasts, including First Lady, Mrs. Michelle Obama, who has been a consistent client for the past two years. [solidcore] is projecting another 10 openings by years' end, including Annapolis, Philadelphia and Atlanta. Additionally, leases are currently being negotiated in Long Island, Chicago and Dallas.
"[solidcore] is really something special and there's nothing like it in the fitness market," said Anne Mahlum, founder, owner and CEO. "The company will remain corporately owned for the foreseeable future as we are not only committed to growing in a big way, but we are laser focused on making sure the brand and experience keeps its consistency and quality."
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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