Movement Commits to Joining the El Cap Team

Englewood, Colorado – November 6, 2019 – El Cap, the parent company of Earth Treks and Planet Granite, announced today that they have acquired Movement Climbing + Fitness (“Movement”). This creates the largest footprint of gyms in Colorado, offering Colorado more than 175,000 square feet of climbing and fitness terrain. El Cap is thrilled to partner with Anne-Worley and Mike Moelter, the founders of Movement and long-time champions of the sport of climbing, philanthropy and community. Through this transaction, El Cap demonstrates its desire to invest in and build upon its leadership position in the Colorado climbing and fitness community and to continue to expand climbing access for its members across the United States.

As the largest community of climbing gyms in the United States, El Cap offers its members nationwide access to the highest quality climbing and fitness experience. By the end of 2019, El Cap will have 16 gyms to serve more than 4 million members and guests that visit the facilities annually. Its gyms serve a dynamic array of members and customers who are all a part of the highly engaged, passionate and inclusive climbing community.

Founded in 2009, Movement has been one of the leaders in the Colorado climbing market. Today, Movement serves Boulder, Denver’s Baker Historic District, and Denver’s up-and-coming RiNo Art District. Anne-Worley and Mike are passionate climbers and have worked in the climbing and fitness industry for more than 20 years. Each brings personal experience from USA Climbing, the International Federation of Sport Climbing and other gyms across the country. Movement has established a leadership position through its focus on eco-friendly design, outstanding customer service, high-quality gym operations and route setting, and an expansive fitness and training offering.

“As core climbers, and fitness enthusiasts, Mike and I believe that joining Movement creates an incredible opportunity for building strength in our industry,” said Anne-Worley Moelter. “We have worked with some of the key Movement team members for a long time, and believe that together, we can provide an unparalleled experience for members and guests. Mike and I have stayed consistently active in the industry, and we believe this step creates the best chance to affect positive change across the board.”

“This is a very special opportunity for us all. Movement’ premier locations and high- quality services align with Movement’s climbing gyms, and they have an impressive team that supports these functions,” said Robert Cohen, CEO of El Cap. “These gyms will expand access with one membership and allow us to collectively continue our work in building a stronger climbing community for all to participate in.”

Matt Eby, Co-Founder and Managing Partner of Tengram Capital and Chairman of El Cap commented, “I first spoke with the Moelter’s over three years ago. The closing of this transaction brings us all closer to the vision we discussed at that time – to bring the amazing sport and community of climbing to as many people as possible across the country. Movement will continue to share this passion with its community of members, employees and partners.”

The three Movement facilities will be added to El Cap’s existing locations including seven Movement gyms in Colorado and the Baltimore/DC area, and six Movement gyms in California and Oregon. Members of each gym will be able to access any of the locations starting November 11, 2019.

About El Cap

Movement is committed to growing the climbing community through a shared vision for outstanding customer service, inspirational designs, and highly engaged communities. Movement gyms feature bouldering, top- roping and lead climbing, as well as amenities like yoga studios, functional fitness, and cardio zones, and retail pro shops. Presently, Movement is represented in greater Washington D.C., San Francisco, Denver, Orange County and Portland under the brand names of Movement, Movement, and Movement. Learn more at movementgyms.com.

About Movement

Movement gyms are visionary climbing and fitness facilities that provide access to challenging physical activities in order to steward journeys to profound personal and collective growth for its communities through climbing and fitness. They do this by sparking radical confidence, a sense of belonging, and infectious optimism, intentionally investing in people and planet in ways that inspire moments of “wow”.

About Tengram Capital Partners

Tengram Capital Partners is a private equity firm that focuses exclusively on premier consumer companies. The team leverages a diverse background of consumer investing and operating expertise to assist and guide management teams in unlocking the true potential of their brands. Tengram invests in both traditional “growth” and “restructuring/turnaround” situations in either the public or private sectors. Current and former investments for Tengram include Movement, DevaCurl, NEST Fragrances, This Works, Algenist, Laura Geller, Lime Crime, and RéVive. Additional information can be found at www.tengramcapital.com

###