Crunch Fitness Announces Strategic Investment
Deal News | Apr 15, 2025 | Leonard Green and Partners
Crunch Fitness has announced a strategic investment in which Leonard Green & Partners (LGP) will acquire a majority interest from TPG Growth and minority shareholders. This move marks a new chapter for Crunch, which has seen substantial growth since 2019 under TPG's tenure, growing its membership by 176% and doubling its gym locations to over 500 worldwide. LGP's investment is aimed at further accelerating this growth. This acquisition is seen as mutually beneficial with both companies praising each other's track records and futures. Financial advisors for the transaction included Jefferies LLC and North Point M&A, with legal counsel from Kirkland & Ellis.
Sectors
- Fitness & Wellness
- Private Equity
Geography
- United States – Crunch Fitness was founded in New York City, and Leonard Green & Partners is based in Los Angeles; both companies operate primarily in the U.S.
- International – Crunch Fitness operates over 500 gyms in various countries, including the U.S., Australia, Canada, and Spain, among others.
Industry
- Fitness & Wellness – Crunch Fitness is a globally recognized brand in the fitness industry, providing gym and fitness services worldwide.
- Private Equity – Leonard Green & Partners, a major private equity firm, is involved in this investment, highlighting private equity's role in strategic acquisitions.
Financials
- 70 billion – Leonard Green & Partners manages over $70 billion in assets.
- 246 billion – TPG manages $246 billion in assets.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Crunch Holdings, LLC | Target Company | Company | A globally recognized fitness brand known for its innovative approach and inclusive fitness culture. |
| Leonard Green & Partners | Investor | Company | A leading private equity investment firm acquiring a majority interest in Crunch Fitness. |
| TPG Growth | Seller | Company | TPG's middle market and growth equity platform, previously holding a significant stake in Crunch Fitness. |
| Jefferies LLC | Financial Advisor | Company | Served as the lead financial advisor to Crunch in the transaction. |
| North Point M&A | Financial Advisor | Company | Acted as a financial advisor in the acquisition process. |
| Kirkland & Ellis | Legal Advisor | Company | Provided legal counsel during the acquisition process. |