NEW YORK — The fitness chain Equinox says it has received a significant minority investment from private equity firm L Catterton based in Greenwich, CT. The amount of the investment was 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. Equinox is a subsidiary of the Related Companies real estate development firm.
The chain offers a selection of branded programs, services and products, including strength and cardio training, studio classes, personal training, spa services and products, apparel and food/juice bars.
“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.”
The first Equinox fitness club opened on the Upper West Side in 1991.