L Catterton Officially Invests in HYROX, Founders Regain Control, Wanda Infront Sports Exits
On the evening of September 8, the founders of HYROX fitness racing event, Christian Toetzke and Moritz Fürste officially announced on Instagram: they have regained control of HYROX. L Catterton and venture capital firm WNDR also participated in this transaction, while the previous controlling shareholder, Wanda Infront Sports & Media (Infront Sports & Media), has officially exited.
The HYROX founders stated via Instagram: “Wehave reinvested in Hyrox and regained the majority stake—this brand is the 'child' we originally created, and we plan to continue growing it over the next few decades.”
HYROX was founded in Germany in 2017, and its "hybrid racing" model has seen rapid development in recent years, now covering more than 30 countries.Wanda Infront first made a strategic investment in HYROX in December 2019 and increased its stake in October 2022, becoming its controlling shareholder.
According to Health Club Management Magazine, 2025 company revenue reached approximately €135 million, with an estimated EBITDA of around €30 million and a profit margin of about 20%. In the 2025-26 season, over 1.4 million people participated in HYROX races, compared to just 80,000 in the 2022-23 season.
According to Athletech News, this transaction values HYROX at approximately €600 million.
Above: HYROX Shenzhen stop in August
As a hockey gold medalist, founder Fürste has expressed his ambition: he hopes HYROX will join the Summer Olympics program within the next 10 years. In an interview with the Financial Times last year, he said the company struggled to meet surging demand and needed to significantly increase entry slots.
L Catterton currently manages approximately $40 billion in consumer-focused assets, with investments in the sports and fitness sector including: boutique gym Equinox, home exercise bike Peloton, golf club manufacturer L.A.B Golf, and Chinese gym chain Will's.
L Catterton partner Miray Topay said that Toetzke and Fürste have "created a new category" in fitness, not just a new event, and have built a truly global community around a novel format.
| Sources: Financial Times; Athletech News; Health Club Management Magazine
| Image credits: HYROX official Weibo; founders' Instagram screenshot