|By PR Newswire||
|July 1, 2013 08:30 AM EDT||
DENVER, July 1, 2013 /PRNewswire/ -- CorePower Yoga, the fastest growing yoga studio operator in the U.S., today announced a capital investment by Catterton Partners, the leading consumer-focused private equity firm. The investment will be used to accelerate CorePower Yoga's growth and expansion. Terms of the transaction were not disclosed.
With over 80 studios in 12 states, CorePower Yoga is the nation's largest operator of company-owned yoga studios. CorePower Yoga's unique style of heated power yoga is physically challenging and combines energy, music, movement and community to create a differentiated yoga experience. The Company's mission is to "share our authentic passion for yoga and healthy living to inspire everyone to live their most extraordinary life." CorePower Yoga strives to make yoga physically challenging yet accessible to everyone through a variety of yoga styles and a wide range of classes for all levels, such as Hot Power Fusion and Yoga Sculpt, offered at convenient times. The recognized leader in yoga teacher certification, CorePower Yoga graduates more than 2,000 teachers annually from its 200-hour level one training. The studios also offer lifestyle programs such as BootCamp to boost fitness and metabolism and a Wellness Cleanse to teach long-term healthy eating and living. CorePower Yoga's studios offer a premium experience with attractive yoga rooms, a full retail boutique, and spa-like amenities including changing rooms with showers and private lockers.
CorePower Yoga was founded in 2002 by Trevor Tice, a successful entrepreneur who turned to yoga for its health benefits after a climbing injury. Under his leadership, the Company has experienced dramatic growth, having tripled its studio base over the last five years. The CorePower Yoga team led by Mr. Tice, Chief Executive Officer, and Chad Kilpatrick, President and Chief Financial Officer, will continue to lead the Company and will seek to further CorePower Yoga's goal of bringing yoga to everyone by leveraging the financial and strategic resources and deep retail expertise of Catterton.
Mr. Tice said, "We are thrilled to partner with Catterton. Together we will achieve CorePower Yoga's mission to bring the physical, mental and spiritual benefits of yoga to students of all levels across the country. Catterton has an outstanding track record of growing consumer and retail companies, including health and wellness brands, and we look forward to continuing CorePower Yoga's growth by expanding our footprint on a broader national scale to spread our passion for yoga and help more people live healthy, extraordinary lives. This cannot be done without the continued efforts of our CorePower Yoga team, which has worked tirelessly to spread the benefits of yoga to more people to improve their everyday lives."
"Yoga continues to experience growing adoption and is one of the fastest growing segments within fitness. As the leading and most expansive yoga studio brand, CorePower Yoga is well-positioned for continued success in this large and fragmented growth market," said Marc Magliacano, a Partner at Catterton. "CorePower Yoga brings yoga and fitness together, with the most experienced and credentialed instructors who offer a consistent experience and a wide range of classes for students of all levels across studios nationwide. We look forward to partnering with the talented team at CorePower Yoga to realize the tremendous vision for this Company."
Robert W. Baird & Co. served as the exclusive financial advisor to Catterton.
About CorePower Yoga
CorePower Yoga strives to increase awareness and widespread adoption of yoga by making yoga accessible to everyone through a variety of yoga styles for beginners and more advanced yoga students. The Company's unique and physically challenging style of heated power yoga combines energy, music, breath, movement and community to create a one-of-a-kind yoga experience. CorePower Yoga classes encompass a wide variety of poses and are taught by certified yoga instructors. In addition to yoga classes, CorePower Yoga offers transformative integrated Wellness Programs and Yoga Teacher Training Programs to empower students to live a health-focused and extraordinary life. CorePower Yoga is committed to sustainable practices, and uses recyclable and reusable products, selects sustainable fixtures and materials for studios and maintains recycling and waste management programs. CorePower Yoga's climate-controlled environments utilize the latest technology to efficiently heat its yoga rooms. CorePower Yoga was founded in 2002 and has over 80 studios in 12 states. For more information, visit www.corepoweryoga.com.
About Catterton Partners
Catterton Partners is the leading consumer-focused private equity firm in North America with more than $3.5 billion currently under management and a twenty-four year track record of success in building high growth companies. Since its founding in 1989, Catterton has leveraged its category insight, strategic and operating skills, and network of industry contacts to establish one of the strongest private equity investment track records in the middle market. Catterton Partners invests in all major consumer segments, including Food and Beverage, Retail and Restaurants, Consumer Products and Services, Consumer Health, and Media and Marketing Services. Catterton's investments include: Restoration Hardware, Outback Steakhouse, Sweet Leaf Tea, Noodles & Company, Frederic Fekkai, Build-A-Bear Workshop, Wellness and Nature's Variety pet food, Kettle Foods, Odwalla and P.F. Chang's, to name a few. More information about Catterton Partners can be found at http://www.cpequity.com.
Andi Rose / Bryan Darrow
Joele Frank, Wilkinson Brimmer Katcher
SOURCE CorePower Yoga; Catterton Partners
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