A consortium led by private equity firm L Catterton has agreed to purchase a major stake in popular hybrid training company Hyrox, stepping in during a clear sign that investors are eager to plant a beacon in the current fitness boom.
The deal values the brand at a reported $697 million and Infront Sports & Media AG confirmed on Tuesday that it would sell its share to the group, that includes Hyrox co-founders Christian Toetzke and Moritz Fürste and Silicon Valley venture capital firm WNDR, which is led by Sujay Jaswa and Jeffrey Katzenberg.
“Over the past seven years, Hyrox developed into a highly successful and fast-growing global business, delivering strong returns for Infront,” Philippe Blatter, Infront President and CEO said. “Following a thorough strategic review, we have decided to divest our stake, as we believe this transaction represents the right next step as HYROX enters its next phase of development.”
Hyrox is both a training method and a competition that brings constant fitness to the forefront, with eight one-kilometer runs alternated with eight workout stations. The hybrid style has risen significantly in recent years and the company stages major events in cities across 30 countries in North America, Europe, Asia and other regions annually.
The company has also attracted major partners, some of who instantly saw value in the venture Toetzke and Fürste founded in Germany in 2017 and quickly forged alliances. Puma, Amazon, Red Bull, Amazfit, Centr, Les Mills, Concept2, MyProtei and AirAsia have all banked on the rising trend of hybrid workouts that essentially serves as an ultimate challenge for people who want to test their fitness.
“This acquisition marks a pivotal next step in the rapid evolution of the Hyrox success story,” Fürste said. “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. We are thrilled to have found the ideal partner in L Catterton to guide Hyrox into this next chapter.”
Over 1.4 million people took part in Hyrox races during the 2025-26 season, according to the company, a meteoric rise over the 20,000 globally who were some of the early adopters in the 2019-2020 campaign in the brand’s initial years.
A major part of the appeal that continues to draw people to Hyrox is the notion that elite athlete-level fitness is not a requirement to take on a typically challenging event, but the intensity remains high and a competition worth putting in the effort to train for.
L Catterton manages around $40 billion worth of assets and is partly owned by LVMH and has major holdings in companies associated with personal fitness, consumer health, beauty and personal care along with other industries. The firm has doubled down on its interest in fitness and has racked up investments in well-known brands like Peloton, Equinox, ClassPass, CorePower Yoga, Pure Barre, Flywheel, Tonal and more.
Meanwhile, Infront first invested in Hyrox in 2019 and boosted its stake within three years and became majority owner of the venture in October 2022.
In a video posted on social media on Tuesday, Toetzke and Fürste eagerly spoke about refocusing their energy on enhancing the future of Hyrox now that they are in a commanding position to steer the brand and have the high-powered backing through this latest deal with the blessing of L Catterton.
“Christian and I have reinvested in Hyrox to go back to owning a majority stake in what started as our baby — and what we intend to keep building for decades to come,” Fürste said in his post.
