Private Equity Firm TSG Backs EōS Fitness as Membership Tops 1.5 Million
Krissy Vann | Host, All Things Fitness and Wellness
EōS Fitness is entering its next phase of growth following an acquisition by private equity firm TSG Consumer Partners. The deal, first reported by The Wall Street Journal, is said to value the high-volume, low-price gym operator at approximately $1.5 billion including debt. TSG takes over from BRS & Co., the previous majority stakeholder in the business.
Founded in 2014, EōS has positioned itself as a high-value, accessible fitness brand, targeting middle-income consumers with memberships starting at $9.99 per month. According to The Wall Street Journal, the company now operates more than 175 locations across key markets including California, Arizona, Texas, and Florida, with additional gyms in the pipeline.
The announcement of the new ownership was shared by the company in a LinkedIn post, which emphasized alignment between the two organizations. “We’re thrilled to announce our new partnership with TSG Consumer Partners, fueling our next chapter of growth,” EōS stated. “We’re on a mission to bring a high-quality fitness experience to everyone—and now, we’re doing it with a partner who shares our passion for innovation, community and value.”
The leadership team at EōS, including Chief Executive Officer Rich Drengberg, will remain in place as the company continues to expand. This news comes shortly after EōS marked a significant membership milestone, surpassing 1.5 million members. “EōS’ momentum continues to set the pace for the fitness industry. In just under 10 years, we reached a million members, and now, nearly two years later, we are half a million stronger,” said Drengberg in a press release issued on May 8. “More than numbers, our growth is about continuing to push the boundaries of what’s expected. We’re intentional about testing and innovating for the benefit of our members. We constantly challenge ourselves to provide our members and team members the very best, redefine the gym experience for our communities and move the industry forward.”
To support this growth, EōS has plans to open 28 new gyms in 2025, with a goal of surpassing 250 locations by 2030. The company reinvested over $3.2 million into its existing clubs during the first quarter of the year and is planning an additional $14 million in improvements throughout the remainder of 2025. These efforts are aimed at aligning with rising consumer demand for personalized fitness and wellness experiences, particularly among Gen Z, which the Health and Fitness Association’s 2025 U.S. Consumer Report identifies as the fastest-growing gym-going demographic.
The brand recently introduced several new amenities to enhance the member experience. Among them are spaces designed for contrast therapy that include cold plunges, hot tubs, and infrared saunas, as well as dedicated zones for content creators outfitted with curated lighting and modern strength equipment. Other additions include personalized smart strength training powered by EGYM, guided recovery services, and new group fitness formats such as Fitness Unchained, Mind/Body Rehab, and the Booty Builder Lab.
To celebrate the membership milestone, EōS is offering every member a complimentary personal training session. “Behind every milestone we celebrate are the team members who show up every day with the passion, knowledge and dedication to deliver a premium experience to our members,” said Richard Idgar, Chief Operating Officer of EōS Fitness. “Our team members are at the heart of everything we do at EōS and fuel our success as we continue bringing our unrivaled energy to more communities nationwide. Together, we’re committed to helping fitness practitioners of all levels reach their health and wellness goals.”
The acquisition by TSG comes amid a wave of private equity activity in the fitness industry. Recent transactions include Leonard Green & Partners acquiring Crunch Fitness, Princeton Equity Group investing in Barry’s Bootcamp, and L Catterton taking a majority stake in Solidcore. TSG, which has experience in the wellness space through past investments in brands like Planet Fitness and CorePower Yoga, brings additional strategic backing to help EōS scale its offerings and reach.
