Equinox Holdings Inc., the luxury gym operator and majority owner of SoulCycle have secured new funding from tech-focused private equity firm Silver Lake. The funds will be used to build Equinox’s digital platform and add as many as 50 locations annually, Equinox said Friday in a statement.
The terms of the transaction were not disclosed.
“As we accelerate our expansion while delivering a first-of-its-kind online/offline experience for our growing global community, Silver Lake is providing valuable expertise as well as capital to fuel this next stage of growth,” Harvey Spevak, Equinox’s executive chairman, said in the statement.
Equinox operates 100 clubs across the U.S., U.K. and Canada, and has plans to enter the Middle East.
In August, Equinox Group announced the development of a multi-brand digital platform offering premium fitness content from its brands with personalized programming from instructors. The program is expected to include a custom SoulCycle bike designed for at-home use, and a proprietary Woodway treadmill exclusively created for Precision Run. Equinox’s digital initiative is being led by Jason LaRose, former president, North America at Under Armour.
The company is also backed by consumer-focused private equity firm L Catterton. Equinox Group’s portfolio of brands currently includes Equinox, Equinox Hotels, SoulCycle, Precision Run and Blink Fitness.
Photo courtesy Equinox