December 7, 2021

D-FW’s Coltala Holdings is building Texas’ largest home fitness equipment dealer

Dallas-Fort Worth-based holding company Coltala Holdings has acquired several of the state’s largest home fitness…

Dallas-Fort Worth-based holding company Coltala Holdings has acquired several of the state’s largest home fitness equipment dealers and is merging them under the new MyFitnessStore.com brand.

Coltala acquired Texas fitness brands Fitness in Motion, Fitness Unlimited, Winston Fitness and Dallas-Fort Worth-based Busybody and Fitness HQ for an undisclosed amount from the three families that owned them.

The consolidation comes as the pandemic forced consumers to pause gym memberships, get creative with their space at home and generally rethink their fitness routines. That has spurred an increase in demand for home workout equipment, according to Coltala, and the owners of the Texas-based equipment dealers were ready to sell their businesses.

”These three [families] knew each other and collaborated over the years, and so they were actually very excited to come together,” Coltala Holdings co-founder and CEO Ralph Manning said.

The global home fitness equipment industry is a $10 billion market today, and that’s expected to grow to nearly $15 billion by 2028, according to a Fortune Business Insights report. Much of that growth in home workouts is being spurred by companies offering virtual exercise courses and developing smart workout technology like Peloton, Tonal and Mirror — a trend Manning said Coltala factored into this deal.

Combined, the fitness equipment brands include 23 retail locations throughout Dallas, San Antonio, Houston and Austin.

Coltala sees an opportunity to expand the merged businesses through a streamlined, nationwide e-commerce operation that will target both residential and commercial customers, including hotels, businesses and apartment property managers looking to add or upgrade gym amenities.

It will also advertise turnkey, pre-configured gym setups for homeowners with the available space.

”Peloton continues to be the tip of the spear, but people are really building out their home gyms now,” Crawford said.

Manning and the team at Coltala did not provide revenue figures but said they aim to grow MyFitnessStore.com into a $100 million-a-year company in the coming years. The company’s board will include two Coltala Holdings executives — Manning and president Edward Crawford — as well as former Gold’s Gym CEO Brandon Bean and MyFitnessStore.com CEO Craig Lewin.

”When we met Coltala, I felt a strong alignment with their Mission and Margin ethos as we serve our customers,” Lewin said in a statement. “My vision is to have stores all over Texas and beyond.”

Coltala invests in health care, manufacturing and other businesses, usually purchasing a majority stake in the companies it acquires. In June, the holding company acquired Tyler-based home health firm Choice Health at Home.

https://www.dallasnews.com/business/local-companies/2021/11/17/d-fws-coltala-holdings-is-building-texas-largest-home-fitness-equipment-dealer/