Fitness Opps: Solidcore to be acquired amid spend increase (Score 55)

Sales Lead: Solidcore will reportedly be acquired by Kohlberg & Company for an undisclosed sum.

• Solidcore CEO Bryan Myers will retain his role.
• The company will likely:
  • Shift strategy
  • Keep increasing digital spend
  • Seek new agency partners
• Target demographic:
  • ​​​​​​​Athletic Gen-Z and millennials

Recent leadership shifts:

• Over the past several months, Solidcore hired brand marketing director Marissa Marano (October 2022) and marketing, loyalty, and CRM director Amber Thorne (December 2022).

Additional spending insights:

• Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
  • YTD spend: So far this year, Solidcore has spent approximately $138.1k on digital ads, almost double the approximately $70.7k spent by this point last year.
  • YTD data: The company has earned an estimated 19m digital impressions YTD, 57% via Instagram ads and 43% via Facebook ads.
  • Last year: In 2022, Solidcore spent roughly $253.7k on this channel, down 9% from the roughly $278.5k spent in 2021.
• Additional channel insights  
  • The company utilizes Google Ads and Facebook ads.

Additional agency insights:

• Opportunity: Solidcore may seek new agency partners post-acquisition, so get in touch soon to remain top-of-mind.
• Current agency roster:
  • ​​​​​​​No current agency relationships yet confirmed

Insight Sources: Digital spend insights estimated by Pathmatics; additional channel insights estimated by Vivvix.