HYROX Majority Stake Sold to L Catterton-Led Investor Group
Krissy Vann | Host, All Things Fitness and Wellness
HYROX has a new majority investor as the fitness racing company enters its next phase of global expansion.
Infront Sports & Media has completed the sale of its majority stake in HYROX to a consortium led by consumer-focused investment firm L Catterton, alongside HYROX co-founders Christian Toetzke and Moritz Fürste.
WndrCo, the investment firm founded by Jeffrey Katzenberg and Sujay Jaswa, is also participating in the transaction. Financial terms were not disclosed.
The deal represents a significant ownership change for one of the fastest-growing businesses in competitive fitness and brings HYROX into L Catterton's portfolio as the company looks to further develop hybrid racing as a global sport and consumer category.
Infront first invested in HYROX in December 2019 and became its majority owner in October 2022. Since then, HYROX has expanded its race calendar, international presence, training programs and network of affiliated gyms.
During the 2025/26 season, HYROX held more than 100 events and attracted more than 1.4 million participants and 1.5 million spectators, according to Infront.
“Over the past seven years, HYROX developed into a highly successful and fast-growing global business, delivering strong returns for Infront,” said Philippe Blatter, Infront President & CEO. “Following a thorough strategic review, we have decided to divest our stake, as we believe this transaction represents the right next step as HYROX enters its next phase of development.”
For L Catterton, the investment adds a rapidly expanding participation-sports business to a portfolio built heavily around consumer brands. The firm and HYROX's founders plan to continue investing in the athlete experience and the development of hybrid racing internationally.
The founders will remain involved in the business and its direction following the transaction.
“This acquisition marks a pivotal next step in the rapid evolution of the HYROX success story,” said Fürste. “As co-founders, it has always been our absolute priority to shape the direction and development of HYROX and to steer the movement in the best interest of our global community. We are thrilled to have found the ideal partner in L Catterton to guide HYROX into this next chapter.”
HYROX was founded by Toetzke, an endurance sports executive with experience in cycling and triathlon, and Fürste, a former German field hockey player and entrepreneur. Its standardized competition combines running with functional workout stations, allowing participants to compete using the same core format across different events and markets.
That format has subsequently developed into a broader ecosystem extending beyond race registration. HYROX now encompasses affiliated gyms, training programs, equipment and brand partnerships, giving fitness operators and other businesses opportunities to participate in the category outside of hosting races themselves.
The new ownership structure could support further expansion of that ecosystem.
Toetzke said the company's priorities include increasing participation, developing additional products and pursuing ambitions of eventually bringing the sport to the Olympic stage.
“HYROX has built the largest mass participation fitness event series globally,” said Toetzke. “In the years ahead, our priorities will be firmly focused on our Olympic aspirations, continuing to welcome millions of people to the HYROX starting line and the opportunities we can see to build and invest in new products that enhance the HYROX offering.”
The transaction also gives Infront an exit from an investment made relatively early in HYROX's development. The company did not disclose its return or the valuation attached to the sale.
Infront said it will continue investing in mass-participation sports through its Active Lifestyle division, which includes event properties and relationships across running and other participation categories.
“HYROX has done something rare in sport: built a genuine global community around a brand-new format,” said Miray Topay, Partner at L Catterton. “Christian and Moritz haven’t just created a race, they’ve created a category. We’re proud to back them as they take Hybrid Racing to a worldwide audience.”
The deal arrives as HYROX increasingly intersects with the traditional fitness industry. Gym operators have introduced HYROX training programs and dedicated training areas, while equipment, apparel and consumer brands have entered partnerships around the race series.
With L Catterton now leading the investor group, the next stage will test how far HYROX can extend that model while continuing to scale its core mass-participation event business.
