Equinox to expand after winning backing from private equity firm
L Catterton, the world’s largest consumer-focused private equity firm, has bought a minority stake in luxury gym chain Equinox.
New York-based Equinox operates 89 clubs in major cities around the US, as well as sites in Canada and London.
Funding from the investment will see the chain attempt to grow its global footprint with further clubs.
It becomes the latest health, fitness and wellness investment made by L Catterton, which has made more than 150 investments in consumer brands and allocates more than US$14bn (£10.8bn, €12bn) in equity capital toward growing “middle-market companies and emerging high-growth enterprises”.
SweatyBetty, the high-end female sportswear company, Pure Barre and Bodytech are among the organisations to have sold equity to L Catterton in exchange for investment.
The former two have rapidly expanded their number of health clubs in the US and Latin America since they partnered with L Catterton.
Equinox is also growing, with two new clubs in London and one in Connecticut scheduled for 2019.
Harvey Spevak, executive chair and managing partner of Equinox, said the boutique gym chain “has never been in greater demand” and will use the investment to “expand globally”.
"The fitness sector continues to see unprecedented growth as consumers prioritise health and wellness" Explains Michael Chu, Global Co-CEO of L Catterton.
L Catterton Equinox Luxury FitnessEquinox launches standalone studio in New York
Joyce Wang to design Equinox health club as company announces London expansion
Europe's premier Evian Spa unveiled at Hôtel Royal in France
Clinique La Prairie unveils health resort in China after two-year project
GoCo Health Innovation City in Sweden plans to lead the world in delivering wellness and new science
Four Seasons announces luxury wellness resort and residences at Amaala
Aman sister brand Janu debuts in Tokyo with four-floor urban wellness retreat
€38m geothermal spa and leisure centre to revitalise Croatian city of Bjelovar
Two Santani eco-friendly wellness resorts coming to Oman, partnered with Omran Group
Kerzner shows confidence in its Siro wellness hotel concept, revealing plans to open 100
Ritz-Carlton, Portland unveils skyline spa inspired by unfolding petals of a rose
Rogers Stirk Harbour & Partners are just one of the names behind The Emory hotel London and Surrenne private members club
Peninsula Hot Springs unveils AUS$11.7m sister site in Australian outback
IWBI creates WELL for residential programme to inspire healthy living environments
Conrad Orlando unveils water-inspired spa oasis amid billion-dollar Evermore Resort complex
Studio A+ realises striking urban hot springs retreat in China's Shanxi Province
Populous reveals plans for major e-sports arena in Saudi Arabia
Wake The Tiger launches new 1,000sq m expansion
Othership CEO envisions its urban bathhouses in every city in North America
Merlin teams up with Hasbro and Lego to create Peppa Pig experiences
SHA Wellness unveils highly-anticipated Mexico outpost
One&Only One Za’abeel opens in Dubai featuring striking design by Nikken Sekkei
Luxury spa hotel, Calcot Manor, creates new Grain Store health club
'World's largest' indoor ski centre by 10 Design slated to open in 2025
Murrayshall Country Estate awarded planning permission for multi-million-pound spa and leisure centre
Aman's Janu hotel by Pelli Clarke & Partners will have 4,000sq m of wellness space
Therme Group confirms Incheon Golden Harbor location for South Korean wellbeing resort
Universal Studios eyes the UK for first European resort
King of Bhutan unveils masterplan for Mindfulness City, designed by BIG, Arup and Cistri
Rural locations are the next frontier for expansion for the health club sector
Tonik Associates designs new suburban model for high-end Third Space health and wellness club
Aman sister brand Janu launching in Tokyo in 2024 with design by Denniston's Jean-Michel Gathy
From parks designed to mitigate the effects of flooding to warming huts for one of the world’s coldest cities, these projects have been designed for increasingly extreme climates