Hyrox founders regain majority stake in $983M sale
Fitness event company sold for $983 million, but founders increased ownership to 51% through a buyback deal.
Hyrox sold for about US$700 million (AU$983 million) in September 2026. Founders Christian Toetzke and Moritz Fürste bought back shares to increase their combined ownership to 51%, paying roughly US$70 million for roughly 11% of the company.
The founders funded the buyback with cash from earlier deals and personal borrowing. New majority shareholders are L Catterton, a private equity firm backed by luxury group LVMH, and Jeffrey Katzenberg's WndrCo.
The sale caps explosive growth. Revenue nearly doubled from US$140 million to US$270 million in just 16 months, while participants more than doubled from 650,000 to 1.4 million.
Strategic capital raises at each stage let the founders scale without losing control. When Hyrox proved its value, the founders could afford to buy back majority ownership.
- AU$983 million
- Sale price
- US$140 million to US$270 million
- Revenue growth in 16 months
- 650,000 to 1.4 million
- Participants growth
- 51%
- Founders' stake after buyback
Why it mattersFounders often trade ownership for growth capital, but this deal shows a path to reclaiming control once the business reaches scale.
AustraliaNo direct Australian impact yet, but the new owners may expand Hyrox events into Asia-Pacific, bringing obstacle races to local fitness markets.
✓ Claims checked against the source and corrected before publish. checked 5 d ago
