Hyrox, the German fitness-racing group, saw its co-founders Christian Toetzke and Moritz Fürste, in partnership with a consortium led by U.S. private equity firm L Catterton, buy back a majority stake from Infront Sports & Media. The deal, which also included venture capital firm WndrCo (founded by Jeffrey Katzenberg), valued Hyrox at around €600 million, or approximately $698 million. L Catterton, known for its investments in consumer and leisure businesses like Birkenstock, aims to further expand the brand's global reach.
Hyrox, founded in 2017, has rapidly grown its indoor fitness races, which combine running with functional workouts, from a niche challenge to a global phenomenon. Participation has surged from about 700 individuals in 2017 to roughly 1.4 million in the latest season, attracting major sponsors such as Puma, Red Bull, BYD, and AIA. The standardized course allows athletes to compare performance globally.
The founders' move to regain majority control is seen as a strategic step to guide Hyrox's future, with a strong focus on achieving Olympic recognition for the format and continuing to expand its event calendar. Infront Sports & Media, which had been the majority owner since October 2022, sold its stake as part of a strategic review to free up capital for its other Active Lifestyle assets. This transaction also marks Hyrox's ongoing expansion, with its 2027 World Championships slated for Hong Kong, its first outside Europe or North America.
