CrossFit Builds Muscle with Berkshire PE Investment
Eric Roza Teams with Berkshire.
Berkshire Partners announced that it will partner with Eric Roza to buy CrossFit. CrossFit, a leading health and fitness brand, begain in a garage 20 years ago in California and now serves millions of people in their fitness endeavors. The company has about 14,000 gyms around the world.
According to Roza, “CrossFit changes lives, and I am excited and inspired by the opportunity to build our global community and help tens of millions of people, while also creating extraordinary opportunities for CrossFit affiliates, athletes, and partners. Our success depends on making sure every person feels welcomed, respected, supported, and heard at CrossFit.”
The deal between Roza and Berkshire is almost done, with DOJ approval pending.
Roza and Berkshire are looking to transform CrossFit while maintaining its original appeal and goals. Managing Director of Berkshire Partners Marni Payne stated “We are thrilled to partner with Eric, his leadership team, and the entire CrossFit community…The women and men who are part of this vibrant and passionate community are deeply committed to this sport, and we recognize the transformative role it has played in so many people’s lives.”
Eric Roza hopes to change CrossFit’s values by making a more inclusive environment. He hopes to eliminate racism, sexism, and bias. Roza and Berkshire are also looking to make changes conducive to the pandemic.
Berkshire Partners is an investment firm headquartered in Boston. Furthermore, the firm specializes in industries such as technology, healthcare, industrials, and health and wellness. Berkshire currently has $16 billion assets and has been a part of 130 private equity investments. The firm consistently achieves positive returns and has nine institutional funds.
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