Pilates reformer manufacturer Reform RX has become the first exit for the Investment Fund for Northern Ireland (IFNI) after the company was acquired by US-based connected fitness equipment leader iFIT Inc for an undisclosed sum.
The IFNI was launched by The British Business Bank to tackle an identified funding gap, with the aim of driving sustainable economic growth by supporting innovation and creating opportunities for new and scaling businesses.
The £70m fund offers businesses a range of commercial financial options including debt finance and equity investments to support businesses from all sectors in Northern Ireland and at different growth stages. Clarendon Fund Managers manages the £33m equity fund and can provide equity stakes in smaller businesses of up to £5m.
Reform RX, which is known for its high-quality connected Pilates reformers and expert-led content, closed an investment round of £1.5m in June 2024, including a £1m investment from IFNI to fuel global expansion and drive further development of its patented technology.
Founded by functional movement specialist and Pilates expert Yvette McGaffin and Neal McGaffin in 2018, Reform RX has grown exponentially since receiving funding.
The IFNI was launched by The British Business Bank to tackle an identified funding gap, with the aim of driving sustainable economic growth by supporting innovation and creating opportunities for new and scaling businesses.
The £70m fund offers businesses a range of commercial financial options including debt finance and equity investments to support businesses from all sectors in Northern Ireland and at different growth stages. Clarendon Fund Managers manages the £33m equity fund and can provide equity stakes in smaller businesses of up to £5m.
Reform RX, which is known for its high-quality connected Pilates reformers and expert-led content, closed an investment round of £1.5m in June 2024, including a £1m investment from IFNI to fuel global expansion and drive further development of its patented technology.
Founded by functional movement specialist and Pilates expert Yvette McGaffin and Neal McGaffin in 2018, Reform RX has grown exponentially since receiving funding.
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LifestyleTranscript
00:00Pilates is the most complete whole body exercise.
00:03It strengthens and conditions your upper body, lower body, cool foundation for a longer, leaner, more powerful physique.
00:11Our vision was to reinvent and reimagine what we could offer the world in the way of a new reform of Pilates experience.
00:19Let's go! My dudes are on fire!
00:22We've got some more school coming for you!
00:24We've got a world class team of engineers and designers who've taken this from a concept to a reality.
00:30To start with, we were looking at a machine in effect that was going to be an improvement on what was already there.
00:36But we quickly saw that really we could do much more than that.
00:41Within a matter of weeks, we'd sketched concepts that embodied what we knew could be a much better machine.
00:49The RX is something different. It's something revolutionary.
00:53And it's connected in a way that no other machine has ever been done before.
00:57The RX is the first digitally connected Pilates reformer with a high-definition screen and a library of on-demand content.
01:06It's about well-being. It's about engaging much more fully with what you're doing.
01:12You'll be able to see everything from your heart rate to your calories burned to your power output during class.
01:18This is a one-of-a-kind machine.
01:21I like the fact that it looks like it has velocity. It looks like it has speed. It has direction before you even start using it.
01:31ReformRx is a library of classes from five minutes to 60 minutes long.
01:37We have strength, cardio, flexibility, and a how-to guide for a complete training experience.
01:43Our instructors will empower and encourage you through every class.
01:48The experience and results are like nothing else.