Private equity-backed consortium buys majority stake in fitness brand Hyrox

A consortium led by private equity firm L Catterton has bought majority control of popular fitness brand Hyrox.

On Tuesday, Infront Sport and Media confirmed it completed a deal to sell the majority stake to the consortium, which also includes Hyrox founders Christian Toetzke and Moritz Furste.

WndrCo, the investment firm founded and led by Jeffrey Katzenburg and partner Sujay Jaswa, is also involved in the transaction.

It is understood the deal values Hyrox at around 600 million US dollars (£444 million).

Cycling industry veteran Mr Toetzke and former hockey player Mr Furste created the business in 2017.

The brand has since expanded rapidly globally, through major events, training programmes and affiliate gyms to deliver its competition sessions.

L Catterton owns stakes in a raft of consumer and leisure business including restaurant chain Dishoom and sandal maker Birkenstock.

Mr Furste said: “This acquisition marks a pivotal next step in the rapid evolution of the Hyrox success story.

“As co-founders, it has always been our absolute priority to shape the direction and development of Hyrox and to steer the movement in the best interest of our global community.”

Mr Toetzke said: “In the years ahead, our priorities will be firmly focused on our Olympic aspirations, continuing to welcome millions of people to the Hyrox starting line and the opportunities we can see to build and invest in new products that enhance the Hyrox offering.

“We are grateful for the partnership with Infront up to this point and are incredibly excited for the journey that lies ahead.”

Swiss sports and leisure business Infront first invested in Hyrox in 2019 and become majority owner of the group in October 2022.