WJ Partners, a private investment firm that focuses on investing in lower middle-market companies, announced that Pure Barre, the largest and most recognized barre-based fitness franchise, has received a significant growth investment from Catterton. WJ Partners acquired Pure Barre in 2012 and will remain an investor. Terms of the agreement were not disclosed.
Pure Barre, which combines ballet, pilates and resistance training in a low-impact, total-body workout, is the established leader in barre-based fitness. The Company has more than 300 studios across 42 states and the District of Columbia, which is more than three times the number of locations of any other barre concept. As a lifestyle brand, Pure Barre also has a growing retail presence that includes in-store and online sales of apparel, media content and other fitness accessories.
“We are extremely proud of the robust growth Pure Barre has experienced since our initial purchase,” said WJ Partners’ Managing Director Jaime Wall, who remains a member of Pure Barre’s board of directors. “This transaction with Catterton is the result of our successful and collaborative partnership with Pure Barre, its management team and franchisees. We welcome Catterton to the Pure Barre family and believe they will take the Company to the next level.”
Since the initial investment in 2012, WJ Partners has worked to establish Pure Barre as the market leader in the barre segment by growing the business from 100 studios to over 300 studios. The strategy included building out a professional management team, upgrading Pure Barre’s infrastructure, adding critical franchisee support functions, demonstrating portability of the model and working closely with the highly passionate franchisee base to ensure long-term success.
“Pure Barre is a great example of how we bring differentiated value to our portfolio companies in the consumer services sector,” said Benjamin Wall, Managing Partner at WJ Partners. “We have a history of success in building infrastructure and teams, executing a strategic plan and ultimately, creating value for all stakeholders. We are proud of the management team’s accomplishments and look forward to continuing our partnership with Pure Barre.”
With over 30 years of experience in consumer products and services, WJ Partners also specializes in business and professional services, industrial services, and specialty finance.
Piper Jaffray & Co. and Stephens Inc. acted as financial advisors to Pure Barre.