L Catterton is shaping up with a minority investment in Equinox that builds on the consumer investment giant’s bet in the health and wellness space.
Terms of the investment were not disclosed.
Billed as the world’s largest consumer-focused private equity fund with more than $14 billion in capital and led by co-chief executive officers J. Michael Chu and Scott A. Dahnke, L Catterton has been busy this year, investing in men’s wear brand Mizzen + Main, Maaji Swimwear, men’s activewear brand Rhone, skin-care brand Tula, Buenos Aires-based chain Rapsodia, and e-commerce beauty brand Kopari Beauty.
Late last year, L Catterton acquired Pinarello, which makes bicycles favored by Tour de France winners, extending on its other health and wellness-themed investments, such as Sweaty Betty and workout concept Pure Barre.
“The fitness sector has experienced unprecedented growth as more consumers are prioritizing health and wellness,” L Catterton’s Chu said. “As an undisputed leader in the industry, Equinox has developed a brand that is truly distinctive to its clientele, offering unrivaled service and a unique experience, with the potential to expand globally. We look forward to working with Equinox’s outstanding management team to support the brand’s execution of their bold vision for global growth.”
Equinox has 89 upscale clubs in New York, Los Angeles, San Francisco, Miami, Chicago, Boston, Dallas, Houston and Washington, D.C., as well as outposts abroad in London, Toronto and Vancouver. The gym offers everything from strength and cardio training to spa services, apparel and juice bars.
Harvey Spevak, executive chairman and managing partner of the gym brand, said, “This investment will allow us to continue our rapid growth and achieve our long-term strategic initiatives to provide exceptional, high performance lifestyle clubs across the U.S. and globally.”
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