The premium gym operator joins the likes of Peloton, Chopt, Pure Barre, Kopari, Rhone and Sweaty Betty, all of which L Catterton has invested in over the past three years, as part of its increased focus on the wellness industry.
Terms of the transaction have not been disclosed, however for Equinox, it will allow the brand to continue its rapid growth and achieve its long-term strategic initiative, which is “to provide exceptional, high-performance lifestyle clubs across the U.S. and globally,” explained Harvey Spevak, the brand’s Executive Chairman and Managing Partner.
“Partnering with L Catterton, which has unparalleled expertise and institutional knowledge of the consumer space, is a resounding endorsement of the strong positioning and performance of our brand,” he added.
At a time when, according to Spevak, Equinox has never been in greater demand, both L Catterton’s deep understanding of the shifts taking place in the wellness space and its expert strategic and operating skills will act as an invaluable support system for Equinox as it enters a new phase of dynamic growth.
With a proven track record of driving fresh momentum for its companies, L Catterton is no doubt hoping to replicate the same level of success it achieved with Peloton, following its $75 million investment in the at-home cycling brand back in 2015.
According to CNBC Peloton is reported to have tripled its revenue in 2016 from the previous year, generating more than $170 million — an exciting milestone in the company’s development.
As the wellness sector continues to experience unprecedented growth, thanks to more consumers prioritizing their health and wellbeing, L Catterton argues that wellness will cement itself as an intrinsic factor in almost all consumer decisions moving forward. And as it does so, the private equity firm will continue to make significant investments in the brands it believes have the potential to accelerate innovation, expand awareness and achieve global growth.