The North American private equity fund L Catterton, backed by the LVMH group and the family holding company of French businessman Bernard Arnault, is about to close the purchase of the Hyrox fitness competition. The agreement, which will be signed shortly, will give the Swiss-German company a valuation of approximately 600 million euros, according to information reported by Bloomberg. The Connecticut-based investment firm will also be considering involving international partners in this process, including potential co-investors from Asia, as the athletic training competition has been gaining more and more fans in mainland China, Hong Kong, Singapore and Japan. The competition has also been gaining popularity in Portugal.
Founded in 2017 in the city of Hamburg, Germany, Hyrox belongs to Swiss marketing company Infront Sports & Media AG, owned by Chinese group Dalian Wanda. The sport has been attracting more participants in competitions organized around the world and has become one of the fastest-growing sports after the Covid-19 pandemic. The Hyrox race model consists of a sequence with several segments totaling 8km, plus functional exercises with weights, ropes, wall balls or rowing.
Last year, a consortium led by Boyu Capital was in negotiations to acquire Infront. Later, in June last year, Sky News reported that L Catterton had entered the race to acquire the Hyrox races. L Catterton already has investments in luxury gym chain Equinox and in rowing ergometer manufacturer Hydrow.
