Hyrox Sold to L Catterton-Led Group in Deal That Includes Brand’s Co-Founders

Hyrox co-founders Christian Toetzke and Moritz Fürste announced the deal on social media. It reportedly values the fitness-racing brand at around $700 million

Infront Sports & Media has sold its majority stake in fitness-racing phenomenon Hyrox to a consortium led by private equity firm L Catterton, part of a deal that also includes Hyrox co-founders Christian Toetzke and Moritz Fürste, and Wndr, the venture capital firm co-founded by Jeffrey Katzenberg, who will join as partners.

Infront, a Switzerland-based sports marketing agency, first invested in Hyrox in 2019 and became a majority shareholder in 2022.

Toetzke and Fürste announced the deal in an Instagram post on Tuesday, following months of speculation that L Catterton was working to acquire Hyrox.

Financial terms of the transaction weren’t disclosed, but Bloomberg previously reported that L Catterton was valuing Hyrox at around €600 million ($697 million).

Fürste said the deal marks an “entire new chapter for Hyrox.”

“Christian and I are doubling down on everything that we stand for in regards to Hyrox,” Fürste said, hinting that he and Toetzke plan to remain involved with the brand for years to come. 

“You will not get rid of us anytime soon,” Fürste said. 

The deal comes as the competitive fitness sector booms, led by Hyrox, which stages hybrid-fitness competitions in the biggest cities across the globe. The company, founded in Hamburg, Germany, in 2017, expects participation to surpass 2 million athletes in the 2026/27 season. 

Hyrox, which has partnered with brands including Amazon, Puma and Red Bull, will look to fend off competition from new fitness-racing concepts, several of which have launched in recent years as the sector grows. 

L Catterton, which invests in other fitness and wellness brands including Solidcore and Playlist, the parent company of EGYM and ClassPass, expressed confidence that Hyrox will be able to continue dominating the market.

“As consumer specialists, L Catterton closely tracks secular trends, and we see Hyrox as uniquely well positioned, having created a global movement around hybrid racing, giving athletes in over 30 countries a place to train, compete and pursue their personal ambitions,” said L Catterton managing director Shena Willis. “We also value deeply the type of partnership we are privileged to have with exceptional founders such as Christian and Moritz and we have tremendous confidence in their leadership as Hyrox enters this next chapter.”

Wndr’s involvement in the deal is notable, too. The VC firm backed Xenom, another fitness competition, with $15 million in seed funding earlier this year.