US private equity firm L Catterton is close to buying a controlling stake in the fitness competition brand Hyrox in a deal that may value the company at about €600 million (R11 billion), according to people familiar with the situation. Launched in 2017 in Hamburg, Germany, Hyrox has quickly expanded into one of the fastest-growing mass-participation sports globally. The competition format features competitors alternating between runs and workout stations.
L Catterton Seeks Global Co-Investors for Hyrox Acquisition
As Hyrox rapidly surges in popularity across locations like Tokyo, Singapore, Hong Kong, and mainland China, the Connecticut-based L Catterton is exploring the inclusion of international partners—including Asian entities—for co-investment, according to those familiar with the matter. The individuals, who requested anonymity because the details remain confidential, added that an accord could be finalized shortly.
A representative for L Catterton didn’t respond to request for comment. Sky News reported in June that L Catterton, was in talks to buy a Hyrox stake.
Current Ownership Structure and Previous Market Interest
Swiss marketing firm Infront Sports & Media AG holds ownership of Hyrox, with Chinese conglomerate Dalian Wanda Group Co. serving as one of its financial backers. A representative for Dalian Wanda declined to comment. Hyrox and Infront didn’t respond to requests for comment.
In October, Bloomberg News reported that a group headed by Boyu Capital held discussions last year regarding the purchase of Infront.
Did you know? For the first time outside of North America or Europe, the 2027 World Championships are scheduled to take place in Hong Kong.
Global Expansion and Mass-Participation Growth
Hyrox originated in Hamburg, Germany in 2017 and has since evolved into a premier mass-participation sport boasting rapid growth, wherein participants transition continuously between workout zones and running segments.
Frequently Asked Questions
Who currently owns Hyrox?
Swiss marketing firm Infront Sports & Media AG holds ownership of Hyrox, with Chinese conglomerate Dalian Wanda Group Co. serving as one of its financial backers.
What is the potential valuation of Hyrox in the L Catterton deal?
According to people familiar with the situation, a deal may value the fitness competition brand at about €600 million (R11 billion).
Where was Hyrox founded?
Launched in 2017 in Hamburg, Germany.
Stay Ahead of the Curve
Get the biggest business, economic and market news of the day. Sign up