🔊 Leading Fitness Brand Acquired For Close To $700 Million

A consortium led by L Catterton, a leading global consumer-focused private equity firm, has acquired majority control of Hyrox, the fast-growing mass-participation fitness competition brand.

The deal also sees Hyrox co-founders Christian Toetzke and Olympic gold medalist Moritz Fürste return to active leadership roles within the company, and Wndr, the venture capital firm co-founded by former DreamWorks CEO Jeffrey Katzenberg, join as a minority investor.

Hyrox, founded in 2017 in Germany, was previously majority-owned by Infront Sports & Media AG, a sports marketing and media company based in Switzerland.

The company expects participation to surpass 2 million athletes in the 2026-27 season, up from approximately 1 million in 2024-25, and has partnered with major brands including Amazon, Puma, and Red Bull.

Why This Matters

Fitness brands, though you might consider them sports-adjacent, have become one of the most attractive categories in private equity over the past couple of years.

Look at these other deals in just the past 18 months:

Now, why is this happening so rapidly?

Because fitness brands check every box that PE firms love: recurring revenue, sticky membership models, brand loyalty, emotionally connected customers, and scalable infrastructure.

Also, think about what makes a sports franchise valuable these days.

Many of the exact same things.

Fitness and wellness brands are becoming more valuable and coveted because they have similar characteristics.

And unlike most sports franchises, they're still accessible.

You don't need a billion dollars and a league's approval to buy a Hyrox or a Crunch.

You just need the right model, the right timing, and the right operator.

The data also proves this:

Looking at the entire landscape, there are significant tailwinds in favor as well.

We have an aging population that’s prioritizing longevity, while our younger generation treats fitness as a social environment where the gym is the new bar.

We also have post-pandemic consumers who have permanently reprioritized physical wellness and are doing more research than ever, connecting fitness to productivity, mental health, drinking less, and more.

Not to mention the entire GLP-1 craze.

None of that is going away.

In fact, it’s just getting started.

Private equity already sees it, and the money is following.

For a more complete snapshot of the private equity firms involved in fitness brands, see below:

• Shoot 360 Raises $7M. Shoot 360, a high-tech basketball training facility, has raised $7 million in growth equity funding led by COPA Innovation Laboratories and its investment subsidiary, COPA Venture Capital. COPA and Shoot 360 also formed a partnership covering athlete assessment, performance analytics, training technology, franchising, and business expansion. Shoot 360 plans to open more locations and accelerate its technology with the new funding (more here).

• Puntr Raises $500K. Puntr, a sports technology, gaming, and fan experience platform founded by Brad Hunt, has raised $500,000 in funding. The round was led by Accretion Capital. The company intends to use the funds to build software that tracks and personalizes the fan experience across live sports, products, seasons, and screens (more here).

• Andrew Stalbow-Led Group Acquires Bath City FC. Bath City, a semi-professional football club based in England, has been taken over by an investment group led by Andrew Stalbow. The deal, worth around £6 million, was approved by the club's board after Stalbow raised funds from around 50 investors. Stalbow is a co-founder and CEO of Seriously, a mobile entertainment company, while Curt Smith, co-founder of Tears for Fears, is among the investors (more here).

• Collaborative Fund Acquires Minority Stake In D.C. United & Audi Field. Collaborative Fund, a New York-based generalist venture firm with roughly $1 billion AUM, has taken a stake in the MLS club D.C. United and its stadium, Audi Field. The firm has invested in other notable companies, including Reddit, Lyft, Magic Spoon, and Beyond Meat. Financial details were not disclosed (more here).

• Liverpool FC & Turkish Airlines Announce Shirt Partnership. Liverpool FC has announced that Turkish Airlines will become its main club partner, with the airline’s branding appearing on the front of men’s, women’s and Academy match shirts from the start of the 2027-28 season. The deal is worth more than £300 million over five years and will represent the club's first shirt sponsor change in 17 years (more here).

• Manchester United & SumUp Announce Sleeve Partnership. Manchester United and SumUp, a British fintech company, announced a multi-year partnership that will make SumUp the club’s Official Sleeve Partner. The logo will appear on the playing shirts for the men's, women's, and Academy teams, with branding also visible at Old Trafford and the Progress with Unity Stadium. Additionally, fans will receive access to exclusive giveaways, competitions, and experiences (more here).

• Buffalo Sabres & SprintAI Announce Multi-Year Partnership. The Buffalo Sabres announced a multi-year partnership with SprintAI, a sports artificial intelligence company, to bring advanced artificial intelligence into the club’s hockey operations and build a more connected approach to on-ice player performance. SprintAI and the Sabres will work together to determine development priorities, incorporating new AI capabilities and workflows while protecting the Sabres’ proprietary data, methodologies and competitive information (more here).

• Lionel Messi Agrees To Acquire Spanish Club Eldense. Inter Miami FC soccer star Lionel Messi has reached a preliminary agreement to take over Spanish second division side Eldense. Eldense is currently owned by the Colombian investment group Grupo TH. The deal is still subject to the completion of due diligence and the required approval from Spain's National Sports Council. If finalized, Eldense would become the second Spanish club owned by Messi. Financial details were not disclosed (more here).

• Micah Parsons Joins RejuvStem As An Investor, Brand Ambassador & Board Member. NFL All-Pro Micah Parsons has joined RejuvStem, a regenerative wellness company, as an investor, board member, and brand ambassador. Parsons has taken an equity stake in the company and will advise on brand growth and strategic initiatives. RejuvStem offers regenerative and non-invasive therapies, including recovery treatments, cellular optimization and personalized wellness programs. The company plans to scale marketing campaigns and educational initiatives to broaden access to regenerative wellness beyond athletes. Financial details were not disclosed (more here).

• Drake Maye & Dak Prescott Join Athletic Brewing Company As Athlete-Owners. Athletic Brewing Company, America's largest non-alcoholic brewer, announced multi-year partnerships with star NFL Quarterbacks Drake Maye and Dak Prescott. Through their respective agreements, Maye and Prescott have each joined Athletic Brewing as athlete-owners, receiving equity and appearing in dedicated marketing campaigns for the brand. Financial details were not disclosed (more here).

• Charlie Woods Signs NIL Deal With TaylorMade Golf. Legendary golfer Tiger Woods’ son Charlie Woods has signed a name, image, and likeness deal with TaylorMade, a California-based golf equipment brand. The 17-year-old high school senior has already committed to playing golf for Florida State next year and, moving forward, will solely use a TaylorMade driver, fairway woods, irons, wedges, and ball. Financial details were not disclosed (more here).

• Denzel Ward Acquires A Stake In The Cleveland Guardians. Cleveland Browns cornerback Denzel Ward has purchased a stake in the Cleveland Guardians. The Guardians are owned by Paul Dolan and David Blitzer, with Blitzer in a position to become the team’s majority owner in the coming years. Ward joins Kansas City Chiefs tight end Travis Kelce as a minority shareholder in the club. Ward, like Kelce, has deep ties to the Cleveland area and has spent his entire NFL career with the Browns. Financial details were not disclosed (more here).

• Ohh Dip!!! Entertainment, Words + Pictures & Genius Sports Launch New Sports Media Company. Genius Sports, former NBA star point guard Chris Paul’s media company Ohh Dip!!!, and Connor Schell’s Words + Pictures have announced a new partnership launching a new athlete-oriented sports media company. Together, the three companies will create original programming, and the new company will develop content from the perspectives of athletes and creators, combining it with Genius Sports' original data, AI, and technology (more here).

• Philadelphia 76ers Unveil New Arena Renderings. The Philadelphia 76ers and Flyers have unveiled renderings of their new arena on the former Spectrum site in South Philadelphia, which the organizations are calling the largest fully privately funded project in city history. The arena is now targeted to open before the 2030 WNBA season, when Philadelphia's expansion team will begin play. The Sixers, owned by Harris Blitzer Sports & Entertainment, come in as 50-50 partners with Comcast Spectacor in the new arena, after spending more than a decade as tenants (more here).