25 Mar 2019
Private equity group TSG acquires CorePower Yoga – reveals plans for European office
BY Tom Walker
Private equity firm TSG Consumer Partners (TSG) has acquired CorePower Yoga from L Catterton for an undisclosed sum.
CorePower Yoga is one of the fastest-growing yoga fitness studio operators in the US.
Founded in 2002, the company currently has more than 200 studios in 23 states and offers a variety of yoga classes and a digital instruction app called CorePower Yoga On Demand.
“CorePower Yoga has established itself as a leading and differentiated brand in the health and wellness space with a proven concept centred on fitness and mindfulness, a loyal and growing member base and a network of high-quality instructors,” said Colin Welch, TSG managing director.
“We're thrilled to partner with the CorePower Yoga team as we continue to build upon the Company’s platform and position CPY for continued success.”
Eric J. Kufel, CEO of CorePower Yoga, added: “TSG has an outstanding track record of building and nurturing world-class brands, making them an invaluable partner as we enter our next chapter.
"Importantly, this investment enhances our ability to empower our community to achieve CorePower Yoga's mission, while bringing our practice to more students seeking yoga and yoga-inspired fitness classes rooted in mindfulness.”
The move comes as TSG announced it will expand its operations in Europe by opening an office in London, UK – the first outside the US.
"TSG’s presence in London deepens its commitment to the European market and enhances the firm’s ability to identify and execute on compelling investment opportunities in the region," TSG said in a statement.
TSG's investments in Europe include spa and beauty brands such as HUDA Beauty, ZOEVA and Revolution Beauty; beer, pub and hotel group BrewDog; and road cycle supplier Canyon Bicycles.
“Europe represents a dynamic and attractive marketplace with exciting investment opportunities across the consumer and retail spectrum,” added Chuck Esserman, CEO and founder of TSG.
“TSG has a strong track record in Europe, and the size of our business has grown steadily over the past few years – one-third of the capital from our TSG7 fund was deployed overseas, primarily on the continent. Now with an established office in London, we will be better positioned to collaborate closely with leading brands and their management teams to help them reach their full global potential.”
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