HYROX is entering its next phase of international expansion following a major investment transaction involving L Catterton, founders Christian Toetzke and Moritz Fürste, and investment firm WndrCo.

Infront Sports & Media announced on September 8 that it had completed the sale of its majority stake in HYROX to the consortium. While L Catterton led the transaction, subsequent deal disclosures confirmed that Toetzke and Fürste have regained majority ownership of the company.

Financial terms were not officially disclosed, although the Financial Times and Reuters reported a valuation of approximately €600 million, or about C$980 million.

The deal brings significant new capital and consumer-sector expertise into a company that has grown from a relatively small fitness competition into a global participation sport in less than a decade.

From Fitness Event to Global Brand

Founded in 2017, HYROX created a standardized indoor race built around eight one-kilometre runs, each followed by a functional workout station.

That consistent format allows participants to train toward defined benchmarks and compare performances across events and markets.

Infront first invested in HYROX in 2019 and became majority owner in 2022. Since then, the business has expanded rapidly.

According to Infront, HYROX staged more than 100 events during the 2025/26 season, attracting more than 1.4 million participants and 1.5 million spectators, with events now operating across more than 30 countries.

L Catterton manages approximately US$40 billion in equity capital and has significant experience investing in consumer, health, wellness and lifestyle brands.

Founders Regain Majority Control

An important element of the transaction is that HYROX’s founders are again majority owners.

Houlihan Lokey, which advised L Catterton, confirmed that Toetzke and Fürste hold a majority stake following the transaction.

That makes the deal somewhat different from a conventional private-equity acquisition. The founders remain at the centre of HYROX’s future strategy while gaining additional investment partners and resources to support international growth.

“This acquisition marks a pivotal next step in the rapid evolution of the HYROX success story,” Fürste said in announcing the transaction.

Toetzke said priorities include continued participation growth, development of new HYROX products and the organization’s longer-term ambition of seeking Olympic recognition.

The Gym Network Is a Key Part of the Model

HYROX’s growth extends well beyond race registrations.

Its expanding network of affiliated gyms and training facilities gives athletes a place to prepare year-round while allowing operators to add HYROX-specific programming, small-group training and event preparation.

That ongoing connection helps HYROX remain relevant between race weekends while giving fitness facilities another way to engage members around structured goals and community-based training.

HYROX Continues to Build Momentum in Canada

Canada is becoming an increasingly visible part of HYROX’s global growth story.

According to HYROX Vault, an independent directory tracking affiliated facilities, 92 training partners are currently listed across Canada. The network includes locations operated by Orangetheory Fitness, F45 Training and GoodLife Fitness, alongside numerous independent gyms, studios and strength and conditioning facilities.

Canada’s event footprint is also expanding.

GoodLife HYROX Toronto is scheduled for October 1–4, 2026, followed by HYROX Vancouver from December 17–20, 2026, and HYROX Ottawa from April 21–25, 2027.

For Canadian operators, HYROX represents more than preparation for a single competition. It is helping drive interest in hybrid training that combines endurance, strength and functional conditioning with an event-focused community component.

Investment Signals Confidence in Fitness Racing

The reported valuation attached to the transaction is notable for the broader fitness industry.

HYROX has built an ecosystem spanning events, gym affiliations, sponsorships, training and licensing, giving the company multiple ways to participate in the growth of the category.

L Catterton Partner Miray Topay described that broader opportunity succinctly: “Christian and Moritz haven’t just created a race, they’ve created a category.”

For fitness operators, that category may be the most important part of the story.

HYROX has helped establish hybrid fitness racing as a recognizable training and participation format, giving clubs and studios another platform around which to build programming, coaching, community and member goals.

The arrival of L Catterton and WndrCo, combined with the founders’ return to majority ownership, provides HYROX with additional resources to continue expanding internationally.

For the fitness industry — including a growing number of Canadian operators — the deal is another sign that fitness racing is developing into a significant segment of the global fitness business.