Flywheel Sports, the boutique fitness studio operator, has been taken over by Kennedy Lewis Investment Management LLC, a New York-based investment firm, and is working with an advisor to explore a possible sale, according to a report from Bloomberg.
Kennedy Lewis provided a loan to Flywheel last year to refinance existing debt and provide working capital to build its in-home business. The firm earlier this year injected another $15 million in exchange for taking majority equity control in the studio.
The Financial Times reported in December that Flywheel pulled earlier plans to sell all or part of itself after failing to drum up investor interest. Flywheel, founded by a co-founder of SoulCycle, operates more than 40 studios across the U.S.
