Insights and Trends continued

Though not comprehensive, the following list demonstrates the ongoing dynamic financial activity and consolidation of the global health and fitness sector from July 2025 to June 2026. Dollar figures are presented as US dollars, and euro conversions use the report’s 2025 average exchange rate of US$1 = €0.886.

Basic-Fit acquired clever fit. In a landmark transaction bringing together one of the world’s largest fitness chains and one of its largest fitness franchises, Basic-Fit, based in The Netherlands, acquired Germany-based clever fit for €160 million (US$181 million), plus a potential €15 million (US$17 million) earn-out. Clever fit added 493 clubs—454 franchised and 39 company-owned—and approximately one million members across seven countries. Completed in November 2025, the acquisition expanded Basic-Fit’s network to more than 2,150 clubs across 12 countries, established it as the market leader in Germany and the wider DACH region, and marked the operator’s entry into franchising.

24 Hour Fitness was acquired by LongRange Capital and Mark Mastrov. Private investment firm LongRange Capital partnered with 24 Hour Fitness founder Mark Mastrov to acquire the chain, which operated 243 gyms in the United States across nine states at the end of 2025. Mastrov, who built the original 24 Hour Fitness from a single club to 420 locations before selling in 2005 and later helped build Crunch Fitness into a 547-unit franchise, returns as owner and executive chair; CEO Karl Sanft remains in place. Financial terms were not disclosed. Piper Sandler advised 24 Hour Fitness, while RBC Capital Markets advised the investor group.

EōS Fitness was acquired by TSG Consumer Partners. TSG acquired the HVLP chain from Bruckmann, Rosser, Sherrill & Co. and Performance Equity Management for a reported purchase price of roughly US$1.5 billion, including debt. At the end of 2025, US-based EōS operated 158 locations concentrated in Arizona, California, Florida, Nevada, Texas, and Utah, with plans to reach 250 gyms by 2030.

Benefit Systems acquired MAC Group. The publicly traded Polish company Benefit Systems completed its US$431.6 million acquisition of Türkiye’s leading fitness operator MAC Group in May 2025, marking the largest acquisition in Benefit Systems’ history. MAC Group added 123 clubs operating under the MACFit, MAC One, and MAC Studio brands, giving Benefit Systems a leading position in the growing Turkish market.

Crunch Fitness was recapitalized by Leonard Green & Partners (LGP). LGP acquired a majority stake from TPG Growth and Crunch’s minority shareholders at a reported valuation above US$1.5 billion. Under TPG’s ownership since 2019, US-based Crunch had grown membership 176% and roughly doubled its unit count to nearly 550 locations and nearly 3.8 million members by the end of 2025.

LifeFit Group acquired Just Fit. The German operator LifeFit Group acquired 21 Just Fit locations and continued its domestic expansion through additional acquisitions.

Bay Club Company (KKR-backed) acquired 425 Fitness. US-based The Bay Club Company, backed by KKR, acquired 425 Fitness and its three Seattle-area clubs as part of a Pacific Northwest expansion push. At the end of 2025, Bay Club operated 31 clubs across 10 West Coast campuses serving 150,000 members.

VivaGym continued its Iberian expansion. Backed by Providence Equity Partners, VivaGym signed an agreement in April 2026 to acquire Synergym International. The transaction remains subject to regulatory approval and, upon completion, would create a network of more than 450 clubs across Spain and Portugal. In a separate transaction, VivaGym also absorbed Sparta Sport Center, which had nearly 25 gyms in Spain at the end of 2025. Terms were not announced.

Club Pilates signed major development agreements. Club Pilates, which accounts for nearly 65% of Xponential Fitness’s revenue, continued to attract large multi-unit commitments. In June 2026, the brand signed an agreement with Saber Ammori to develop 70 new studios across Maryland, Michigan, and New York. In a separate agreement, Riser Fitness committed to opening 127 Club Pilates studios over five years, underscoring the brand’s continued appeal to large franchise operators.

Amped Fitness received backing from Princeton Equity Group. In January 2026, Princeton made a strategic investment in Amped Fitness, a US-based HVLP operator with 35 company-owned locations across six states and more than 180,000 members. Financial terms were not disclosed. The investment is intended to support new club development, expansion into additional US markets, and further investment in the in-club experience.

Xponential Fitness continued its brand divestitures. Having grown to 11 brands in 2023, Xponential spent 2025 narrowing its portfolio to focus capital on its most profitable concepts, led by Club Pilates.

● CycleBar and Rumble. The sale of the two brands to Extraordinary Brands, LLC was completed in July 2025. Extraordinary Brands, which had previously acquired Row House and Neighborhood Barre, now owns four fitness concepts spanning cycling, boxing, rowing, and barre. Terms were not disclosed; Houlihan Lokey advised Xponential.

● Lindora. The sale of the metabolic-health and weight-loss brand to Next Health Management Group was completed on September 19, 2025.

Xponential now operates five core brands: Club Pilates, Pure Barre, YogaSix, BFT, and StretchLab.

HYROX majority stake sold to L Catterton-Led Group. HYROX majority stake sold to L Catterton-Led Group. Majority owner Infront Sports & Media, which is owned by China’s Wanda Group, sold its stake in the German-based hybrid fitness-racing brand HYROX. The aquiring consortium includes private equity firm L Catterton, Hyrox co-founders Christian Toetzke and Moritz Fürste, and Wndr. Financial terms of the transaction weren’t disclosed, but Bloomberg previously reported that L Catterton was valuing Hyrox at around €600 million (US$697 million).