TSG Consumer to Acquire EOS Fitness
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SAN FRANCISCO, CA and DALLAS, TX - TSG Consumer Partners ("TSG"), a leading specialist private equity firm focused exclusively on the consumer sector, announces it has signed a definitive agreement to acquire EōS Fitness ("EōS"), a leading U.S. operator of High Value. Low Price. (HVLP) gyms. EōS Chief Executive Officer, Rich Drengberg, will continue to head the company with his tenured leadership team and will retain a vested interest in the go-forward company.
EōS is a rapidly growing gym chain with more than 175 gym locations open and on the way across the U.S. and a goal to make fitness accessible to everyone. The company is 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. EōS is led by Drengberg, with a deep, cohesive team of industry veterans at the helm.
"We are honored to partner with TSG Consumer, a firm that shares our vision to make high-quality fitness available to everyone," said Drengberg. "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 EōS leadership team and our team members, whose hard work and dedication have made this announcement possible. 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."
"Partnering with EōS at this pivotal point in their journey opens exciting avenues for growth and innovation," said Michael Layman, Managing Director at TSG Consumer. "With the help of their outstanding team, EōS has built a compelling brand that resonates with a broad and diverse member base, offering a premium experience at a price that opens the door to millions of people. Their company-owned model enables best-in-class operations across their locations, providing consumers with a high-quality and consistent experience that they love and trust. We look forward to partnering with EōS and supporting them through their next phase of growth."
"EōS is well known for its ability to deliver value without compromise," said Adam Hemmer, Managing Director at TSG Consumer. "Their commitment to customer service and their focus on offering fitness enthusiasts many ways to train have helped them stand out at a time when more people than ever are focused on fitness and affordability. We're excited to bring our resources to support their mission to create loyal, lifelong fans and exercise practitioners."
"On behalf of my colleagues at BRS, we'd like to extend our congratulations to the EōS team," said Rashad Rahman, Managing Director of BRS. "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 EōS' 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 EōS, with Robert W. Baird & Co. also acting as financial advisor. Milbank LLP served as EōS' legal counsel. The transaction is subject to customary closing conditions and regulatory approval.
EōS Fitness Exceeds 1.5 Million Members, Continues Rapid Nationwide Growth
DALLAS, TX – EōS Fitness celebrates the impressive milestone of surpassing 1.5 million members. With more than 175 locations open or on the way, the national High Value, Low Price (HVLP) gym brand continues to elevate the fitness experience across its national footprint.
"EōS' momentum continues to set the pace for the fitness industry. In just under 10 years, we reached a million members, and now, nearly two years later, we are half a million stronger," said Rich Drengberg, Chief Executive Officer of EōS Fitness. "More than numbers, our growth is about continuing to push the boundaries of what's expected. We're intentional about testing and innovating for the benefit of our members. We constantly challenge ourselves to provide our members and team members the very best, redefine the gym experience for our communities and move the industry forward."
Driven by rising demand for personalized wellness experiences, EōS is expanding its portfolio of gyms and services. According to the Health and Fitness Association's 2025 U.S. Health & Fitness Consumer Report, a record 25% of Americans belong to a gym, with the strongest growth coming from Gen Z.
