Private equity firm L Catterton, in conjunction with Hyrox co-founders Christian Toetzke and Moritz Fürste, and investment firm WndrCo, has acquired a majority stake in the global fitness racing series Hyrox. While financial terms were not officially disclosed, the deal reportedly values Hyrox at around $600 million (€600 million or $697 million), a substantial valuation for the company founded in 2017. This transaction saw Infront Sports & Media sell its majority stake, which it had held since 2022.
Critically, the co-founders, Christian Toetzke and Moritz Fürste, regained majority ownership and control of Hyrox. Toetzke explicitly stated that they were buying back shares and now hold the controlling stake, emphasizing that they are not cashing out but are committed to the long-term direction of the company. L Catterton and WndrCo will act as minority partners, providing support and opening opportunities for Hyrox's future growth.
Hyrox has shown rapid growth since its inception, with revenues reaching an estimated €135 million ($157 million) in 2025 and projected to approach €300 million ($348 million) in 2026. The company staged over 100 events in the 2025/26 season, attracting 1.4 million participants. The acquisition is intended to fuel further international expansion and the founders' long-term goal of establishing hybrid racing as an Olympic sport. L Catterton, which manages around $40 billion in equity capital, brings extensive experience from its investments in other fitness and wellness brands like Equinox and Peloton.
