L Catterton has acquired a minority stake in health club chain Equinox. No financial terms were disclosed.
NEW YORK and GREENWICH, Conn., July 11, 2017 /PRNewswire/ — Equinox, the high performance lifestyle leader, today announced a significant minority investment from L Catterton, the largest and most global consumer-focused private equity firm in the world.
Equinox is a pioneer in the luxury fitness industry and has grown into an unrivaled lifestyle brand, operating upscale, full-service clubs across the U.S., U.K. and Canada. As an internationally recognized arbiter of luxury, Equinox offers members unparalleled, bespoke experiences in the fields of movement, nutrition and regeneration, and remains grounded by substance but elevated in style.
“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,” said Harvey Spevak, Executive Chairman and Managing Partner of Equinox. “Equinox has never been in greater demand. This investment will allow us to continue our rapid growth and achieve our long-term strategic initiatives to provide exceptional, high performance lifestyle clubs across the U.S. and globally.”
“The fitness sector has experienced unprecedented growth as more consumers are prioritizing health and wellness,” said Michael Chu, Global Co-CEO of L Catterton. “As an undisputed leader in the industry, Equinox has developed a brand that is truly distinctive to its clientele, offering unrivaled service and a unique experience, with the potential to expand globally. We look forward to working with Equinox’s outstanding management team to support the brand’s execution of their bold vision for global growth.”
Terms of the transaction were not disclosed.
Equinox operates 89 upscale, full-service clubs in New York, Los Angeles, San Francisco, Miami, Chicago, Boston, Dallas, Houston and Washington, DC, as well as international locations in London, Toronto and Vancouver. The company offers an integrated selection of Equinox-branded programs, services and products, including strength and cardio training, studio classes, personal training, spa services and products, apparel and food/juice bars.
About L Catterton
With over $14 billion of equity capital across six fund strategies in 17 offices globally, L Catterton is the largest and most global consumer-focused private equity firm in the world. L Catterton’s team of more than 140 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad thought partnership network. Since 1989, the firm has made over 150 investments in leading consumer brands. L Catterton was formed through the partnership of Catterton, LVMH and Groupe Arnault. For more information about L Catterton, please visit lcatterton.com.