HighPost Capital, Jeff Bezos’ younger brother’s consumer-focused private equity business, has made its first health and wellness investment.
HighPost, managed by David Moross and Mark Bezos, has purchased Centr, the digital fitness platform developed by Australian actor Chris Hemsworth, well known for his role as Thor in the Marvel comics.
Inspire Fitness, a manufacturer of free weights, rowing machines, and other fitness equipment, was also acquired by HighPost and will be folded into Centr. According to those familiar with the situation, the combined firm is worth more than US$200 million (RM842 million) including debt, and Hemsworth is the second-largest stakeholder behind HighPost.
HighPost Capital, Jeff Bezos’ younger brother’s consumer-focused private equity business, has made its first health and wellness investment.
HighPost, managed by David Moross and Mark Bezos, has purchased Centr, the digital fitness platform developed by Australian actor Chris Hemsworth, well known for his role as Thor in the Marvel comics.
Inspire Fitness, a manufacturer of free weights, rowing machines, and other fitness equipment, was also acquired by HighPost and will be folded into Centr. According to those familiar with the situation, the combined firm is worth more than US$200 million (RM842 million) including debt, and Hemsworth is the second-largest stakeholder behind HighPost.
Inspire has been designing, manufacturing, and distributing high-quality fitness equipment around the world since 2003, with a strong focus on strength training. Functional trainers, strength systems, multi-gyms, cardio machines, free weights, benches, and performance wear and accessories are all available from Inspire.
In the broader trend to hybrid and strength-focused exercises, Centr and Inspire are both primed to benefit from strong secular growth drivers in the huge digital and traditional strength training sectors. Both companies have similar consumer demographics and some of the top customer affinity scores in their categories. A seasoned management team with considerable fitness, consumer, media, technology, and operational skills will lead the combined company, which will take the name Centr, LLC.
Scott Dickey, who has spent the last 25 years establishing and reforming high-profile worldwide firms, will serve as Chairman, with Jeff Laborde, Inspire’s President, and other senior Centr and Inspire executives joining him. As the combined company’s second-largest stakeholder, Mr. Hemsworth will remain actively involved in all aspects of Centr. Shareholders of Inspire are also contributing a significant amount of their equity to the acquisition.
HighPost worked with Baird as a financial advisor and White & Case LLP as a legal advisor. Cerberus Business Finance, LLC provided the transaction with debt finance. Centr was advised by Greenberg Glusker Fields Claman & Machtinger LLP and Creative Artists Agency LLC, while Chris Hemsworth was advised by Greenberg Glusker Fields Claman & Machtinger LLP and Creative Artists Agency LLC. Inspire worked with Harrison Co. as a financial advisor and Buchalter PC as a legal advisor.
