PRODUCT NEWS
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| Core Health & Fitness acquires Jacobs Ladder, meeting demand of a growing high intensity market segment |
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| 15 Jun 2022 . BY Megan Whitby |
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Core Health & Fitness, a portfolio company of US-based private equity firm Gainline Capital Partners LP, has acquired Jacobs Ladder, the leader in ladder climbing fitness offerings.
Financial terms of the transaction are private but the deal will provide Jacobs Ladder with the funding and distribution to scale its business.
Jason Leone, president of Core, said: “Prior to and coming out of Covid, commercial customers across gym and vertical market categories placed or are placing an increased emphasis on high intensity products.
“Many consumers are returning to in-person workouts at fitness facilities where Core is seeing record year-over-year commercial fitness growth.”
Bob Palka, Jacobs CEO, added: “This is a momentous step for the business which simultaneously grants us the support, investment and distribution we need to dramatically scale our business and accelerate towards our mission in the fitness industry.
“The opportunity to work closely with Core, collaborating across its portfolio of globally recognised brands to build an even more diverse ecosystem, is another huge benefit of this acquisition.
“When we launched in 2004, we realised it was an unparalleled fitness experience. What we have lacked for the past 18 years is a partner to help us share in an economy of scale. Core not only brings economy of scale, but an iconic set of brands.
“We’re delighted with our new ownership and excited by its implications not only for Jacobs Ladder, but for the sector as a whole.”
Harry Clouston, vice-president at Gainline, concluded: “As a leading B2B supplier for the global health and fitness market, we see Jacobs as a natural extension of Core’s business model.”
The collaboration will begin with the two companies jointly exhibiting at IHRSA this month.
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