Breaking: Founder-Former CEO Randy Hetrick Partners with Private Equity Veteran Jack Daly of JFXD Capital for TRX Acquisition
Hetrick will now lead the company as Chairman, while Daly will serve as the Chief Executive Officer
After voluntarily filing for Chapter 11 Protection in June 2022, TRX, a leading provider of functional training products, is looking to revitalize its business through the acquisition by JFXD Capital announced today. TRX was founded in 2004 by Randy Hetrick, who was a former Navy SEAL and has an MBA from Stanford’s Graduate School of Business. TRX’s Suspension Trainer was built to allow athletes to build strength despite lacking access to traditional gym equipment in remote locations. The equipment’s iconic “yellow and black straps” soon became a staple in gyms and boutiques across the world, while the company became a leader in education and trainer certification programs.
After leading TRX for 15 years, Randy Hetrick sold a controlling interest in the company, and founded the outdoor mobile fitness venture, OutFit. In 2022, eager to rebuild TRX, Hetrick partnered with Daly to bring about the company’s acquisition. Daly is a former Partner and Investment Committee Member of Goldman Sachs’ Merchant Banking Division and TPG Capital, and serves as the Treasurer of the Navy SEAL Foundation.
Looking to the future, TRX is confident about its comeback story. By leveraging its brand equity, the post-pandemic fitness world’s growth, and its first-class management team, TRX will rebuild in partnership with JFXD Capital, eager to lead in fitness innovation once more.