NEW YORK–(BUSINESS WIRE)–Mar 31, 2022–
HighPost Capital (“HighPost”), a leading private investment firm focused on the global consumer and consumer technology sectors, today announced the acquisitions of Centr, a personalized digital health and fitness platform curated by Chris Hemsworth and his hand-picked team of internationally renowned experts, and Inspire Fitness (“Inspire”), a leader in state-of-the-art fitness equipment. Financial terms were not disclosed.
Founded in 2019 by Chris Hemsworth, Centr provides expert-driven fitness, nutrition, and mindfulness programming to help over 200,000 global subscribers strive to meet their training goals. Centr’s core offerings, delivered to users through its leading subscription app, consist of daily planners, diversified training programs, meal plans, guided meditations, and more, supported by weekly new content.
Since 2003, Inspire has designed, manufactured, and distributed premium-quality fitness equipment globally, with noted leadership in the strength training category. Inspire’s full range of fitness equipment includes functional trainers, strength systems, multi-gyms, cardio machines, free weights, benches, and performance apparel and accessories.
Centr and Inspire are both poised to capitalize on strong secular growth drivers in the large digital and traditional strength fitness markets amid the broader shift to hybrid and strength-focused workouts. The two businesses share overlapping customer demographics and some of the highest customer affinity scores in their respective categories. The combined company, which will adopt the Centr, LLC name, will be led by a seasoned management team with significant fitness, consumer, media, technology, and operational expertise. Scott Dickey, who brings a 25-year career of building and transforming high-profile global businesses, will serve as Chairman, and Jeff Laborde, Inspire’s President, will be joined by existing Centr and Inspire leaders. Mr. Hemsworth will continue to be deeply involved in all aspects of Centr, as the second largest shareholder in the combined business. Inspire shareholders are also rolling over a meaningful portion of their equity into the transaction.
“The combination of Centr and Inspire Fitness, two profitable high-growth businesses, presents a highly attractive opportunity to create a best-in-class fitness platform for health and wellness enthusiasts worldwide,” said David Moross, Co-Founder, Chairman, and Chief Executive Officer of HighPost Capital. “We are thrilled to be partnering with Chris Hemsworth and Jeff Laborde, as well as Scott Dickey, a seasoned active lifestyle and consumer industry executive I have known and worked with for many years, on this exciting endeavor. Chris is a global icon whose authenticity, passion for fitness, and avid fan base will drive a more engaged global fitness community. For nearly two decades, Inspire Fitness has set the standard for developing innovative, high quality fitness equipment at compelling price points. We look forward to providing the strategic and capital support to further grow Centr’s subscriber base, expand the Inspire retail distribution footprint, and build a robust fitness brand with multiple levers for growth in a resilient and expanding sector. I would also like to thank HighPost professionals Kevin Mailender and Sol Goldwyn for their efforts on this transaction.”
Mr. Hemsworth said, “Centr was created to provide people with carefully curated and integrated fitness, nutrition, and mindfulness programs, guiding beginners and more experienced users in achieving their unique health and fitness goals. I look forward to partnering with HighPost and Inspire to continue the success of Centr, inspire people to lead healthier and more active lives, and increase our strong subscriber base worldwide by developing outstanding new content and expanding our offerings. I would like to thank the teams at FLG and Loup for their many contributions to Centr and for their ongoing support.”
Mr. Dickey added, “I am honored and excited to team up once again with David, the team at HighPost, Jeff Laborde and the talented team members at Inspire, and of course, Chris and his amazing expert trainers, as well as Zsofi Paterson and her entire team at Loup in Melbourne. This combination represents a tremendous opportunity with enormous potential to compete at the highest levels of the explosive digital fitness industry.”
Mr. Laborde said, “As the market leader in premium-quality functional trainers and strength systems, Inspire Fitness is thrilled to join forces with HighPost and Centr to create an industry-leading health and wellness platform by selectively integrating, cross-marketing, and cross-selling Centr app subscriptions and personalized fitness programming, while leveraging HighPost’s strategic and capital support. With the support of our valued retail partners, I look forward to bringing Inspire’s unrivaled combination of function, durability and value to consumers worldwide.”
Baird served as financial advisor and White & Case LLP served as legal advisor to HighPost. Cerberus Business Finance, LLC provided debt financing for the transaction. Evolution Media Capital LLC served as financial advisor and Gilbert + Tobin served as legal advisor to Centr; Greenberg Glusker Fields Claman & Machtinger LLP and Creative Artists Agency LLC served as advisors to Chris Hemsworth. Harrison Co. served as a financial advisor and Buchalter PC served as legal advisor to Inspire.
About HighPost Capital
HighPost Capital (“HighPost”) is a private investment firm focused on the global consumer and consumer technology sectors. Led by proven private equity and marketing executives David Moross and Mark Bezos, HighPost seeks to leverage the respective skills, network and experience of its principals to create long-term value for its portfolio companies. HighPost seeks to identify opportunities with family-controlled and entrepreneur-led companies that share a differentiated approach to value creation. For more information, please visit https://www.highpost.com.
Centr is a leading fitness, nutrition, and mindfulness platform founded by Chris Hemsworth that has over 200,000 global subscribers. Centr’s core offerings include a daily personalized health and wellness planner, diversified training programs for varied goals, and over 3,000 pieces of content – with much being driven by Chris Hemsworth’s passion for fitness and leveraging his expert network of elite trainers, chefs, nutritionists, and other wellness professionals. For more information, please visit https://centr.com.
About Inspire Fitness
Founded in 2003, Inspire Fitness began as a high-end in-home fitness equipment manufacturer, but has since then transformed into much more. Bridging the gap between in-home fitness, the classic fitness studio and online training, Inspire Fitness is changing the in-home fitness experience with convenience, motivation, education and connection. Inspire Fitness Studios will serve not only as a local fitness studio for the community as well as a flagship production facility where workouts will be recorded and streamed to the app for a digital at-home experience. To learn more, please visit https://inspirefitness.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20220330005951/en/
Jonathan Gasthalter/Nathaniel Garnick
Gasthalter & Co.
KEYWORD: NEW YORK UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: GENERAL HEALTH FITNESS & NUTRITION HEALTH OTHER HEALTH
SOURCE: HighPost Capital
Copyright Business Wire 2022.
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