Barry’s Secures Strategic Investment from Princeton Equity Group to Power Global Expansion
The HIIT workout brand has received an investment from the private equity firm that specializes in franchises and multi-location companies
Barry’s has announced a strategic partnership with Princeton Equity Group, a private equity firm specializing in franchises and multi-location companies. The investment will help the brand expand its reach, particularly in the UK and Canadian markets. Barry’s now operates 89 studios across 15 countries and hopes to open dozens of new locations in the coming years.
“We’re thrilled to partner with Princeton Equity Group, a firm whose values align closely with ours,” Joey Gonzalez, Co-CEO of Barry’s told Athletech News. “Like us, they prioritize authenticity, passion, and a strong sense of community. This partnership marks a shared vision for scaling Barry’s and inspiring more people to transform their lives through fitness. Beyond capital, this investment is an opportunity to redefine the premium boutique fitness sector. Barry’s has set the standard in premium fitness, blending elite trainers, high-intensity workouts, and a community-driven atmosphere. With Princeton’s support, we’re poised to accelerate our mission.”
Princeton Equity Group manages approximately $1.3 billion in assets and a portfolio that includes Massage Envy, Stretch Zone, and The Woodhouse Day Spa.
“At Princeton, we believe in brands that have built a foundation of authenticity, passion, and a commitment to the community,” said Jim Waskovich, Managing Partner of Princeton. Barry’s has successfully combined world-class fitness with an incredible sense of belonging, and we are excited to support the team as they bring this experience to meet the demand of clients around the world.”
In an interview with ATN in 2023, Gonzalez noted that Barry’s could quadruple its studio footprint in the U.S. before 2030, putting the brand at around 200 domestic studios.
“This investment will fuel the engine for growth and allow us to expand into new markets as well as infill additional studios within current markets,” Gonzalez continued. “In 2025 alone, we are targeting 12 new locations, including markets such as Navy Yard (DC), Charleston, Hoboken, Williamsburg, Salt Lake City, as well as some international cities like Madrid, Athens, and Dublin. We will also now focus on consolidating our operations in two key international markets, the UK and Canada. Both of these regions have proven to be integral to Barry’s identity and expansion strategy.”
Barry’s is also about to host a LIFT pop-up at Aspen Gay Ski Week for the second year. From January 16-19, the brand is hosting exclusive daily LIFT classes in the Grand Salon at The Little Nell.