Lowenstein represented Anne Mahlum, founder and Executive Chair of the full-body, strength-training workout [solidcore], in the sale of all of her equity in the company to Kohlberg & Company. Since [solidcore]’s founding, Mahlum has raised substantial capital from private equity firms Peterson Partners, VMG Partners, and now Kolhberg & Co., who are now the majority owners in the company.
As part of this transaction, Mahlum will award millions of dollars to her team through an incentive pool she created in 2018. All full-time employees who have been with the company for at least a year prior to the transaction will receive a portion of the proceeds that she received.
[solidcore] is a 50-minute workout that uses slow, controlled movements to break down the slow-twitch muscle fibers so that they build back stronger and leaner. Mahlum started [solidcore] as a female founder and entrepreneur with just $175,000 less than ten years ago. In the past two years, [solidcore] has expanded to include 99 studios in 24 states.
The deal team included Steven E. Siesser, Lesley P. Adamo, Sophia Mokotoff, Brooke A. Gillar, Anita L. Chapdelaine, and Alan J. Sun.
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