Reform RX Celebrates First Exit for Northern Ireland Equity Fund Through Acquisition by iFIT Inc.

In a notable development, Pilates reformer manufacturer Reform RX has achieved a significant milestone by becoming the first exit from the Investment Fund for Northern Ireland (IFNI) through its acquisition by the US-based connected fitness equipment leader, iFIT Inc. The financial terms of the transaction remain undisclosed. Established with a mission to address funding gaps and foster economic growth, the IFNI was launched by The British Business Bank to provide financial support for innovative and scaling businesses in Northern Ireland. Managed by Clarendon Fund Managers, the fund offers a combination of debt and equity investments with an eye on nurturing innovation across industries. Reform RX’s acquisition marks a pivotal exit for the IFNI, which was part of a broader 1.6 billion commitment to regional investment funds. Reform RX, co-founded by Pilates experts Yvette and Neal McGaffin in 2018, has witnessed remarkable growth, particularly following its recent investment round, which included significant backing from IFNI. The acquisition aligns with iFIT Inc.’s strategy to expand globally and enhance its technological offerings in the fitness industry. Comments from key stakeholders, including Yvette McGaffin, acknowledge the alignment of Reform RX's vision with iFIT Inc., emphasizing the shared commitment to fitness innovation. As the first exit from the fund since its inception, the acquisition demonstrates the potential of Northern Ireland's innovative companies and signifies a promising future for local businesses looking to engage with global markets. The IFNI’s efforts in driving growth and innovation in Northern Ireland are further validated by this exit, highlighting the fund’s role in supporting companies’ growth journeys.