NECTAR CAPITAL ANNOUNCES THE ACQUISITION OF BARRECORE BY UNITED FITNESS BRANDS
Nectar Capital announces the acquisition of Barrecore by United Fitness Brands. United Fitness Brands was recently formed following the recent successful merger between Boom Cycle and KOBOX. United Fitness Brands has quickly become the UK’s leading boutique fitness group.
Barrecore was founded in London in 2011 by celebrity trainer Niki Rein, who created the class for some of her private training clients and due to the staggering response, opened the first boutique barre fitness studio in 2011 in Chelsea, UK.
Since then, Barrecore has nearly 100 incredibly well trained and knowledgeable teachers, who have all undergone a rigorous selection process and 200 hours of training before being formally tested and qualifying and has now grown into one of the UK’s most well-known fitness brands, with 12 thriving studios across prime locations in the UK, as well as online workouts in the form of Live Streamed Classes and On Demand Classes that are taught to clients all around the world!
WHAT IS THE BARRECORE METHOD?
Developed by Niki Rein, it uses your own body weight and isometric exercises and quickly sculpts your body, making you stronger, leaner, and more flexible.
Despite being tough, the method is low impact, making it suitable for clients of all ages, genders, and fitness levels, including clients who are injured, pre-natal or post-natal clients. In addition to seeing quick physical results, the classes and teachers also boost your mental well-being through the positive impact of exercise, but also because Barrecore has a strong focus on the mind-body connection.
UNITED FITNESS BRANDS
With this acquisition, United Fitness Brands grows to 21 locations including 3 outside of London, with 3 new multi-brand locations in the pipeline. UFB reports that it is in advanced negotiations with a number of other fitness groups whose profile fits the UFB blueprint for success.
Scott Rudmann, Managing Partner of Nectar Capital said: “United Fitness Brands has been formed in 2021 following the impeccable industrial logic of gaining the scale, operating efficiencies, and better access to the human talent available to larger groups while maintaining each brand’s DNA and unique appeal to customers. Under the Chairmanship of David Lloyd, CEO Joe Cohen (co-founder of KOBOX), COO Robert Rowland (co-founder of Boom Cycle) and Marketing Director Hilary Rowland, there is no doubt the company has the leadership in the executive suite to continue its growth to become one of Europe’s most important and sizeable fitness businesses.”
David Lloyd, Chairman of United Fitness Brands said: “I am very pleased with the purchase of Barrecore, this coupled with our merger with KOBOX is another step in our goal to make UFB the leader in boutique gyms.”
Financing for the acquisition of Barrecore was led by the Nectar Global Credit Opportunities fund with participation from existing UFB equity shareholders. Nectar Capital acted as corporate finance advisor to UFB.