Latham & Watkins and Kirkland & Ellis have snapped up roles on L Catterton’s acquisition of HYROX, the company behind the global fitness phenomenon, with Swiss firm Homburger leading on the sell side.
The private equity fund L Catterton, which also holds a majority stake in other consumer brands such as Birkenstock and Dishoom, led a consortium that has agreed to acquire HYROX from Swiss sports marketing company Infront Sports & Media.
Latham is acting for L Catterton, while Kirkland is advising HYROX founders Christian Toetzke and Moritz Fürste, who are partnering with the consortium led by L Catterton. Homburger is advising Infront.
The Latham team is led by corporate partners Linzi Thomas, Jon Fox and global vice chair of the firm’s corporate department and Legal 500 high-value PE deals leading partner Tom Evans, all in London.
All three partners have worked with L Catterton on previous deals, with Thomas and Evans advising on the PE fund’s merger with LVMH, the luxury goods conglomerate owned by French billionaire Bernard Arnault, in 2016.
Also leading the firm’s team on the HYROX acquisition are Heiko Gotsche, a Legal 500 leading partner for corporate and M&A in Germany, who advised from the firm’s Düsseldorf office, as well as London finance partner Hendrik Smit.
The team also includes antitrust partner Anthemis Economou in Brussels, payments practice co-chair Christian McDermott in London, and Silicon Valley tech partner John McGaraghan. Rachel Astin is advising on entertainment, sports, and media matters from London, while tax partners Helen Lethaby and Verena Seevers are advising from London and Hamburg respectively.
Munich employment partner Kristina Hufnagel is also working on the deal, as are London real estate partner Quentin Gwyer, Munich disputes partner Anne Löhner, and Oliver Middleton, chair of the litigation and trial department in London.
Homburger’s team is led by corporate partners Anna Peter and Dieter Gericke – both of whom are individually recognised in Legal 500’s commercial, corporate, and M&A rankings for Switzerland.
The team also includes debt finance partner Stefan Bindschedler, a Legal 500 next-generation partner for banking and finance, Georg Rauber, a Legal 500 Hall of Famer for IP, and Richard Stäuber, who heads the firm’s competition and regulatory teams, and is a Legal 500 leading partner in both competition and public law.
Tax partners Stefan Oesterhelt and Dieter Grünblatt are also advising, and are both recognised by Legal 500 as leading partners for tax.
Homburger has worked with Infront in the past, including advising on its acquisition of Youthstream in 2019, which gave the company television, marketing and promotional rights to the FIM MXGP Motocross World Championship until 2036.
Infront first invested in HYROX in 2019, and became majority owner in 2022.
The Kirkland team advising the founders includes corporate partners Sebastian Pitz in Frankfurt, Merih Altay in London, and Legal 500 leading partner for PE transactions in Germany Benjamin Leyendecker, based in the firm’s Munich office.
Munich tax partner Tim Nobereit and London debt finance partner Vanessa Xu are also advising.
Gibson Dunn was also involved in the transaction, advising L Catterton’s co-investor WndrCo on the deal. The team was led by co-chair of the PE group Ari Lanin, based in Century City, and PE partners Sarah Graham, in Los Angeles, and Dirk Oberbracht, who serves as partner in charge of the firm’s Frankfurt office.
Also advising from the firm was antitrust partner Attila Borsos, based in Brussels, finance partner Sebastian Schoon, in Frankfurt, and tax partner Dora Arash, in Los Angeles.
HYROX was founded by Toetzke and Fürste in Hamburg in 2017, and now operates more than 100 events around the world, with more than 1.4 million participants and more than 1.5 million spectators in the 2025-26 season alone, according to a statement from Infront.
Fürste said of the deal: ‘This acquisition marks a pivotal next step in the rapid evolution of the HYROX success story. As co-founders, it has always been our absolute priority to shape the direction and development of HYROX and to steer the movement in the best interest of our global community.’
‘We are thrilled to have found the ideal partner in L Catterton to guide HYROX into this next chapter,’ he concluded.
