Equinox lines up $1B for growth, names ex-Anheuser-Busch chief as CEO
What's the deal? EquinoxDealroom has a profile for this one. Try Dealroom →, the luxury fitness operator, has secured more than $1 billion for planned growth investments and appointed former Anheuser-Busch chief executive Brendan Whitworth as CEO. The capital comes via a refinancing backed by existing investors Silver Lake, principals of Related CompaniesDealroom has a profile for this one. Try Dealroom →, and AresDealroom has a profile for this one. Try Dealroom →, alongside lenders Ares and Sixth StreetDealroom has a profile for this one. Try Dealroom →.
Where the money goes: Equinox plans to spend on new club openings, upgrades to existing locations, and strategic growth initiatives. It has a pipeline of roughly 50 new clubs against a current footprint of 118 clubs in 18 major markets.
The new boss: Whitworth, who led Anheuser-Busch from 2021 until this month, replaces Harvey Spevak, who has run Equinox since 1999 and becomes chairman. A former US Marine Corps officer, Whitworth brings consumer-brand experience but inherits the role after a turbulent stretch at the brewer, where beer sales fell following a 2023 Bud LightDealroom has a profile for this one. Try Dealroom → marketing controversy. Whitworth will also join the Equinox board.
Why now? Equinox says membership, activity, and check-ins are at all-time highs, with "double-digit topline growth" across its portfolio. The refinancing strengthens its balance sheet as it moves to accelerate expansion.
Market expansion: Beyond upgrading current sites, Equinox plans to enter what it calls "high-potential markets," positioning itself at the intersection of fitness, health, wellness, and longevity.
The size of it: The commitment ranks among the largest growth-equity deals in US sports, sitting in roughly the 96th percentile of comparable rounds. The terms of the financing and the breakdown of spending were not disclosed.
What could go wrong? The more than $1 billion is capital earmarked after a refinancing, not a standalone equity total, and undisclosed terms limit what can be said about Equinox's financial position. Competition is intensifying: rival Life Time reported 14.2% year-over-year revenue growth in the third quarter of 2026 and is on track for a record 14 club openings this year.
The signal: Premium fitness is drawing aggressive capital as demand grows, and Equinox is betting that experience and scale—backed by a consumer-brand CEO—will keep it ahead in a crowded luxury wellness market.
Read more: prnewswire.com
Image credit: Equinox
