ONCAP acquired Merrithew International Inc. ("Merrithew") in February 2022 in partnership with the founding family.
Merrithew is a global leader in mindful movement as one of the largest developers, manufacturers and retailers of Pilates equipment, accessories, content and education worldwide. The Company’s innovative education and certification programs for fitness instructors operate under several global brands including STOTT PILATES®, ZEN•GA®, Total Barre®, Halo® Training, Merrithew Fascial Movement, and CORE™ Athletic Conditioning and Performance Training™. Founded in 1988 and headquartered in Toronto, Ontario, Merrithew has trained more than 70,000 instructors and partners worldwide since inception.
ONCAP was attracted to Merrithew for several reasons, including its (i) leading market position, (ii) globally recognized brand, (iii) compelling industry tailwinds driven by increasing consumer focus on health and wellness, (iv) opportunities for both organic and acquisition growth within a fragmented market, (v) attractive free cash flow characteristics, and (vi) entrepreneurial management team. In partnership with the management team, ONCAP aims to create value by growing through new and existing customers, end markets and geographies, expanding into adjacent product categories and identifying strategic acquisitions