Core Health and Fitness, the manufacturer of commercial fitness equipment, reported that it had secured an investment from Franklin Square Capital Partners to further invest in research and development to expand its product line. The company did not disclose the sum of the investment.
Core Health and Fitness brands include StairMaster, Schwinn Indoor Bikes, Nautilus Strength, Star Trac, Wexer, and Throwdown.
“The commitment from Franklin Square to provide additional financial resources will enable our company to continue building momentum in serving our customers and partners with quality fitness products and solutions in over 100 countries around the world,” said company CEO Bryan K. O’Rourke. “Our team of over 1,700 professionals is committed to making Core Health and Fitness the partner of choice in the fitness industry as we work together to share our passion for fitness and make the world a healthier place.”
Gainline Capital Partners, which acquired Core Health and Fitness in 2020, supported the Franklin Square partnership. Co-founder Rick Sullivan said, “The team at Gainline is appreciative of the support of Franklin Square and PNC as we continue to support Core and its talented leadership team. Core’s stable of leading brands and unique position in the global fitness industry position the company for continued success and growth.”
Houlihan Lokey advised Core Health and Fitness on the Franklin Square partnership.
Image courtesy Core Health and Fitness
