An EoS Fitness spin bike room. [Photo: EoS Fitness]
Dallas-based gym operator EoS Fitness is being acquired by San Francisco’s TSG Consumer Partners, a specialist private equity firm focused exclusively on the consumer sector.
EoS CEO Rich Drengberg [Photo: LinkedIn]
Terms of the deal were not disclosed. EoS CEO Rich Drengberg will continue to head the company with his tenured leadership team and will retain a vested interest in the go-forward company, TSG said.
“We’re honored to partner with TSG Consumer, a firm that shares our vision to make high-quality fitness available to everyone,” Drengberg said in a statement. “Their deep experience partnering with leading brands in the fitness industry and helping them deliver long-term value to their customers makes them an ideal partner for our next chapter. Importantly, TSG Consumer shares our commitment to innovation, continuous improvement and the evolution of our offering.”
“I’d also like to extend my thanks to Bruce Bruckmann and Rashad Rahman of BRS for 11 years of partnership, as well as the incredible EoS leadership team and our team members, whose hard work and dedication have made this announcement possible,” Drengberg added. “With TSG Consumer’s support, we look forward to expanding our footprint while delivering exceptional value, experiences and a sense of community to our more than 1.5 million loyal members nationwide.”
More than 175 locations across U.S.
EoS is a rapidly growing gym chain with more than 175 locations open and on the way across the United States and a goal to “make fitness accessible to everyone.”
The company said it’s redefining the fitness experience for consumers and their communities by providing spacious facilities, cutting-edge equipment, diverse class offerings and an emphasis on cleanliness and friendliness, all at affordable prices.
“Partnering with EoS at this pivotal point in their journey opens exciting avenues for growth and innovation,” Michael Layman, managing director at TSG Consumer, said in a statement. “With the help of their outstanding team, EoS has built a compelling brand that resonates with a broad member base, offering a low-priced premium experience at a time when more people than ever are focused on fitness. We look forward to supporting EoS through their next phase of growth.”
EoS moved its HQ to Dallas in 2022
EoS Fitness announced it was moving its HQ to Dallas in 2022 as part of its expansion plans into Texas. It announced the opening of its first Texas gym in January 2024 in the DFW suburb of Euless at 2401 Rio Grande Blvd.
In September 2024, the company announced it had signed up its one millionth member.
“EoS is well known for its ability to deliver value without compromise,” said Adam Hemmer, managing director at TSG Consumer. “Their company-owned model enables best-in-class operations across locations, providing consumers with a high-quality and consistent experience that they love and trust. We’re excited to bring our resources to support their mission to create loyal, lifelong fans and exercise practitioners.”
Rashad Rahman, managing director at BRS & Co., said his firm is looking forward to EoS’ future.
“On behalf of my colleagues at BRS, we’d like to extend our congratulations to the EoS team,” Rahman said in a statement. “Since originally investing in the business in 2014, we have worked closely alongside Rich and his leadership team to help scale the company into the fitness leader it is today, and we look forward to witnessing EoS’ continued growth and success in this next chapter.”
Ropes & Gray LLP provided legal counsel to TSG Consumer. Piper Sandler & Co. served as the lead financial advisor to EoS, with Robert W. Baird & Co. also acting as financial advisor. Milbank LLP served as EoS’ legal counsel. The transaction is subject to customary closing conditions and regulatory approval.
EoS Fitness, is known for its “High Value. Low Price” gyms. More gyms are the way in Arizona, Florida, Georgia, Nevada, Southern California, Texas and Utah, the company said.
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