Sean Gagnon, longtime president and co-founder of The Abs Company, has purchased ownership of the New Jersey-based company from his partners, the parties announced in an Aug. 14 media release.
Gagnon, along with Don Brown and David Augustine, founded The Abs Company in 2007. In 2017, the partners began discussing differences in their long-term business interests and reached an agreement for Gagnon to assume full control of the company's stock and intellectual property on June 11, 2018.
As part of the agreement, collaborator Mike Ritter, who helped The Abs Company develop and launch the TireFlip 180 in 2014, has also become a minority shareholder in the company.
“I am extremely proud of what my team and I have been able to create here at The Abs Company," Gagnon said in the release. "I am forever grateful to Don and Dave for giving me my start in the industry and for teaching me from their vast experience. We remain friends and I’m sure our paths will cross again. The Abs Company was founded on innovation, and it is that innovation mindset that will carry us the next many years."
In addition to home sales, The Abs Company’s products are currently in 10,000 health clubs in more than 40 countries. The company’s club partners include Gold's Gym, 24 Hour Fitness, Planet Fitness and Retro Fitness. Its Ab Coaster product claims $100 million in worldwide sales, according to the release.
Gagnon holds a bachelor's degree from Trenton State College and a master's degree in exercise physiology from the University of Florida.
“The Ab Space still remains extremely relevant in health clubs today,” Gagnon said. “Even with the shift in focus towards functional training, people still love to train abs. A dedicated abs area gives members a place where they can feel comfortable and win in the clubs. Not everyone is ready for the more advanced movements often found in group and functional training classes. Making people feel comfortable keeps them coming back.”