TRX secures capital investment from private equity firm Equity38

TRX, a supplier of functional fitness training and equipment, is recapitalising its business through a strategic growth capital investment from private equity firm Equity38. 

TRX was founded by Randy Hetrick in 2004 and delivers functional training solutions and its Suspension Training®, the bodyweight-based exercise method that became a worldwide phenomenon.

Equity38 structured its investment as a management buyout of TRX’s previous investors, although the sum of the transaction was not publicly disclosed. The recapitalisation is aimed at maintaining TRX’s existing infrastructure, while lending TRX the resources to further develop its brand and footprint.

TRX Chief Executive and founder Hetrick explained "I couldn’t be more excited to welcome the Equity38 team into the TRX family. This partnership came together in the most organic and serendipitous way imaginable.

“In addition to arming TRX with a war chest of growth capital, Equity38 brings deep experience in our industry and their active involvement in the business and stewardship will be an important part of our next chapter.” 

Equity38 is a consumer-focused private equity firm co-founded in 2018 by Brent Leffel and David Cox. Leffel and Cox have experience of the fitness sector, having previously worked as principal investors, c-level executives and board directors with prominent fitness brands such as New Evolution Ventures UFC GYM, US Fitness, Crunch Fitness, Barry's Bootcamp and Orangetheory Fitness.

Leffel added “I got to know Hetrick early in my travels through the fitness industry, and I’ve always admired what he has accomplished as an entrepreneur.

“Hetrick and his team have built the world’s premier training and education company with a foundation in science-based movement benefiting everyone from novice fitness participants to professional athletes.

"Despite its significant growth and global impact, TRX has only begun to scratch the surface of what it can become, and we are excited to lock arms with Hetrick and his team to realise the brand’s full potential.”

TRX states that it has 100 employees, 350 certified master instructors and to have qualified more than 300,000 trainers since 2009.

In Australia, TRX Products are distributed by NovoFit - novofit.com.au/trx

Click here to contact NovoFit via their entry in the Australasian Leisure Management Supplier Directory.