Primal Strength raises funds to power up growth
Celtic FC defender, Christopher Jullien
Primal Strength, the Glasgow headquartered supplier of fitness products, has secured a multi-million-pound investment from Flywheel Partners to scale up the business.
Primal’s customers include Celtic Football Club, as well individual sports stars such as Ché Adams, Jermaine Jenas and Callum McGregor.
It has benefitted from the soaring spend in home workout equipment in the past year, alongside the reopening of commercial gyms.
More than half of UK consumers have purchased home workout products in the past year and three-quarters of those who have been working out from home plan to continue to do so post-pandemic, according to research by GlobalData.
Primal is one of the UK’s fastest growing strength brands, offering in excess of 2,000 products.
It has seen five years of continual growth and annual revenues have more than quadrupled 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.
Funds will also be used to increase awareness of Primal’s product and service offering – building on its existing marketing efforts, which include Zack George, crowned the ‘UK’s Fittest Man’ in 2020, as a brand ambassador.
Steven Rinaldi, managing director, said: “The performance strength market, and our place within it, has continued to grow at pace as people increasingly recognise the importance of a hybrid approach to training combining both cardio and strength.
“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.
“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.
“We’re excited to be partnering with Flywheel on this next phase of our growth, whose entrepreneurial culture, active approach and experience in the sector made them an ideal fit for us.”
Avital Lobel, managing director of Flywheel Partners, said: “In only five years since its launch, Primal has successfully captured a fragmented market.
“Steven and his team have created an exceptional brand that is ideally placed to serve the growing strength movement and health and wellness trends, with both home and commercial fitness markets anticipated to continue their strong growth trajectories.
“We’re excited to be partnering with Primal as the business continues to go from strength to strength.”
Alongside the investment, Primal has appointed Andrew Shapin as a non-executive director.
He brings over 25 years of experience in building digitally focused consumer brands in the UK and internationally, with expertise in performance marketing and customer relationship management (CRM).
He was founder and chairman of The Cotswold Company and was previously CEO of Long Tall Sally. He is currently chairman of Sarah Raven, the online gardening company.