Core Health & Fitness LLC (“Core”), a portfolio company of US-based private equity firm Gainline Capital Partners LP (“Gainline”), announced today that it has acquired Jacobs Ladder the leader in ladder climbing fitness offerings. Financial terms of the transaction are private.
The deal will provide Jacobs 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 to the point of Core reaching record commercial fitness goals this year.”
Bob Palka, Jacobs CEO, said: “This is a momentous step for Jacobs Ladder, simultaneously granting 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 Health & Fitness, collaborating across its portfolio of globally recognised brands to build an even more diverse ecosystem, is another huge benefit of this acquisition. In 2004, when we started Jacobs Ladder, we realized 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 are delighted with our new ownership and excited by its implications not only for Jacobs Ladder, but for the sector as a whole.”
Rick Sullivan, Partner at Gainline, added: “As a leading B2B supplier for the global health and fitness market, we see Jacobs Ladder as a natural extension of Core’s business model.”
The collaboration will begin with a us jointly exhibiting at IHRSA this month.
About Core Health & Fitness
Core Health & Fitness is a vertically integrated global manufacturer of fitness equipment with a strong market presence across cardio, strength, group cycling and high-intensity interval training (HIIT) equipment. Core’s innovative, high-quality products are sold under the iconic brands of StairMaster, Schwinn, Nautilus, Star Trac, Throwdown and Wexer. Core sells its products and solutions into more than 100 countries worldwide. corehandf.com
About Jacobs Ladder
Jacobs Ladder has now grown into a 35,000 square foot manufacturing space and has shipped product to over 50 countries worldwide. The products have been featured in many hit media shows on NBC, Showtime and CW. Professional sports teams like the Dallas Cowboys, Boston Celtics and Kansas City Royals and countless Division I athletic programs like Penn State, Duke, UNC, Ohio State and Michigan have adopted Jacobs Ladder for high intensity training. The company continues to innovate with the development of Jacobs Ladder 2, Stairway and Stairway GTL and the newest product, Jacobs Ladder X. You will most certainly “Love To Hate It” just as much as other athletes, agents and everyday people do around the world. jacobsladderexercise.com
About Gainline Capital Partners
Gainline Capital Partners is a private equity firm that invests in US-based middle market companies. The firm invests in profitable companies with enterprise values of up to US$250m. Gainline partners with management teams to help execute their vision, drive sustainable growth and create long-term value. gainlinecapital.com