Primal Strength, providers of performance strength products for the commercial and home fitness markets, has secured a multi-million-pound investment from Flywheel Partners to accelerate its growth plans.
Primal will utilise the investment and partnership with Flywheel to scale up the business and capture opportunities arising from the growth of strength training and post-lockdown health and wellness trends.
Primal has benefitted from the soaring spend in home workout equipment in the past year, with this set to continue alongside the return to commercial gyms post-lockdown. Over half of UK consumers have purchased home workout products in the past year and over three quarters of people who have been working out from home plan to continue to do so post-pandemic, according to research by GlobalData.
With more than 2,000 products, Primal has seen five years of continual growth and annual revenues more than quadruple since 2018.
The investment will be used for product development and to capture domestic and global market opportunities, across the UK, Europe and the Middle East.
“As well as further increasing awareness of the link between physical and mental wellbeing, the Covid-19 pandemic has driven a different type of training too, as people recognise the dual benefits of convenience from working out at home combined with what a gym membership can offer,” says Steven Rinaldi, managing director of Primal Strength.
“This investment will allow us to further drive our growth in response to these, and other market trends – from the significant rise in female strength training to the growth in boutique studios expanding rapidly across the UK.”