Exclusive: SLT Is Expanding (Again) After a Major Investment
The super-popular boutique fitness brand, created by the wellness entrepreneur Amanda Freeman in the New York City area, is about to go big thanks to a strategic investment from North Castle Partners.
The private equity firm focuses on businesses that promote healthy, active, and sustainable living, and has recently invested in Barry's Bootcamp, helping that white-hot workout brand go into sprint mode. It is also the investment firm that very successfully sold Equinox gyms to Related.
The terms of the SLT deal were not disclosed. But Freeman, who's opened 10 studios in about five years, creating the largest country's largest Megaformer brand, says the funding will be used to expand in existing markets as well as brand-new ones in the Northeast (Hoboken, NJ, Greenwich, CT, and Bergen County, NJ), plus Florida, Philadelphia, and the UK.
That's core-tastic news for fans of the seriously challenging 50-minute sweat sesh where instructor-led classes max out at 10 or 12, and your muscles are tasked with moving the momentum-free carriage (cheating is virtually impossible) while doing standing lunges, pikes on all fours, and "Mermaid" oblique crunches, all to an excruciating slow count. Individual classes cost $36 or $40, depending on location.
"I think our workout is amazing and continues to grow interest, says Freeman, who fell in love with the Megaformer workout in Los Angeles and acquired rights from the method's and machine's creator Sebastian Lagree to build studios in Manhattan, Long Island, and more.
"There are lots of opportunities for growth," Freeman says, "and I hope to one day be an international brand with hundreds of studios." Our wobbly legs can't wait.
Never tried an SLT sesh? Grab a partner and check out this SLT-Fhitting Room mashup to get a quick (super sweaty) sampling of some of the moves.
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