Molly Armbrister of the Denver Business Journal writes-
Colorado retailer Healthstyles Exercise Equipment has been acquired by two Denver men for an undisclosed sum.
The company was founded in Glenwood Springs in 1993 and was purchased in June by Cam Horan and Ed Rapp, who specialize in private equity and consulting. The pair were searching for acquisition opportunities in the health and fitness space.
“The founders, Dave and Jean Sheriff, built the company really well,” Horan said. “The company culture and the branding really struck us. Also, the business weathered the recession. The downturn weeded out lots of businesses, but this one came out stronger.”
In 2013, Healthstyles brought in revenue of $8.6 million, and its projected revenue for 2014 is $9.4 million, an increase of 9 percent.
Healthstyles employs 40 people and maintains six retail locations in Fort Collins, metro Denver, Colorado Springs and Glenwood Springs. In addition, the company has warehouse and office space near Interstate 25 and West Eighth Avenue.
Horan and Rapp were further attracted to Healthstyles by the diversity of its business model, Horan said.
The company includes three separate components: retail locations, commercial sales and e-commerce.
Aside from selling its equipment in retail locations, Healthstyles also sells exercise equipment directly to commercial users such as apartment complexes, hotels and schools.
“With all the activity in multifamily housing, we saw a good opportunity for that segment, but we’ll also be focusing a lot on e-commerce,” Horan said.
Healthstyles distributes primarily in Colorado, but also sells some products in southern Wyoming, Horan said.
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