L Catterton-led group buys fitness brand Hyrox for nearly $700M

Global fitness racing brand HYROX has a new ownership group. On Tuesday, Infront Sports & Media confirmed it completed the sale of its majority stake in HYROX to a consortium led by L Catterton, the consumer-focused private equity firm, alongside HYROX co-founders Christian Toetzke and Moritz Fürste and Jeffrey Katzenberg's investment firm WndrCo.independent+1

Bloomberg reported ahead of the deal's completion that L Catterton was valuing HYROX at approximately €600 million, or about $697 million. The Independent reported the deal values HYROX at around $600 million, while Fitt Insider and Athletech News placed the figure near $700 million.insider.fitt+3

Founders Regain Control

The transaction returns majority ownership to the company's founders. Toetzke, a cycling industry veteran, and Fürste, a former professional hockey player, created HYROX in 2017 with a single race in Hamburg, Germany. The pair are understood to have increased their combined stake from around 40% to 51%, reinvesting proceeds and taking on additional financing to do so.hybridfitnessmedia

"This acquisition marks a pivotal next step in the rapid evolution of the Hyrox success story," Fürste said in a statement. "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."independent

Infront, a Switzerland-based sports marketing agency, first invested in HYROX in December 2019 and became majority owner in October 2022. L Catterton managing director Shena Willis said the firm sees HYROX as "uniquely well positioned, having created a global movement around hybrid racing, giving athletes in over 30 countries a place to train, compete and pursue their personal ambitions."ausleisure+2

Growth Ambitions and Olympic Aspirations

HYROX has grown into a global platform with more than 1.4 million participants and over 100 events in the 2025/26 season. L Catterton, which also holds stakes in Birkenstock ↗ 2.00% and restaurant chain Dishoom, was also reported to be exploring co-investors from Asia, where HYROX participation has surged in mainland China, Hong Kong, Singapore, and Tokyo.bloomberg+1

Toetzke said priorities ahead include "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."independent

The co-founders are also joining WndrCo as investors in XENOM, another emerging fitness competition platform, underscoring a broader bet on hybrid racing as a category.insider.fitt