L Catterton takes majority stake in Hyrox

Financed via a dedicated growth equity consortium, L Catterton finalizes the acquisition of a majority stake in HYROX from the seller Infront Sports & Media AG, securing the sports asset at an implied enterprise value of €500M–1.5bn. Concluded in September 2026, this secondary buyout orchestrates the definitive exit of Infront Sports & Media AG, which initially backed the hybrid racing platform in December 2019 before taking absolute majority control in October 2022. The newly formed shareholding structure incorporates the institutional participation of the venture firm WndrCo alongside a significant capital roll-over from HYROX co-founders Christian Toetzke and Moritz Fürste. This configuration ensures strict executive continuity while providing the founders with the robust institutional capital required for an accelerated international scaling phase. For L Catterton, backed by the luxury conglomerate LVMH and steered by partners Miray Topay and Shena Willis, the strategic rationale centers on capitalizing on a rapidly expanding global movement within the fitness and consumer health sectors. The acquiring investment committee explicitly intends to leverage its extensive operational expertise in consumer businesses to aggressively drive international expansion, establish lucrative new corporate partnerships, and advance the platform toward its ambitious Olympic aspirations. By securing this premium asset, L Catterton captures a highly engaged competitive community already supported by established corporate partnerships with global brands including Amazon, Puma, and Red Bull. Conversely, the strategic divestiture allows Infront Sports & Media AG, under the leadership of President and Chief Executive Officer Philippe Blatter and Senior Vice President Hans-Peter Zurbruegg, to realize substantial financial returns generated throughout its investment cycle. Following this highly profitable exit, the selling sports business company plans to reallocate its internal capital and strategic focus exclusively toward new growth opportunities within its broader Active Lifestyle portfolio. The execution of this transatlantic transaction strictly transitions HYROX from a heavily integrated corporate subsidiary into a standalone platform empowered by dedicated private equity resources, positioning it to dominate the hybrid racing category worldwide.

The acquisition of Hyrox is part of the growth strategy of L Catterton, which already has several external growth operations under its belt, notably Ex Nihilo in 2026.