LNK Invests in Beachbody, Owner of P90X
Beachbodys other exercise programs include Insanity, Brazil Butt Lift and 10-Minute Trainer
Private equity firm LNK Partners has made an investment in Beachbody LLC, owner of the P90X workout program founded by fitness guru Tony Horton.
Santa Monica, Calif.-based Beachbody also makes exercise programs Insanity, Brazil Butt Lift, Shakeology, Ultimate Reset and 10-Minute Trainer. The workouts are sold through infomercials and online and through a direct sales network of coaches.
The investment will allow Beachbody to continue its expansion. Two of LNK’s partners will join the board of directors.
White Plains-based LNK’s portfolio companies include Au Bon Pain and Natural Food Holdings. The firm closed its second fund, LNK Partners II LP, in August with $400 million in commitments.
LNK’s investment is one of several that indicate a growing interest in healthy lifestyles. In December, Calera Capital won an auction for Competitor Group Inc., a sporting event and media company that operates that Rock ‘n’ Roll Marathon.
Robert W. Baird & Co. served as LNK’s investment adviser, while Kirkland & Ellis LLP served as legal counsel. Houlihan Lokey was Beachbody’s investment adviser, and Cozen O’Connor was its legal counsel.
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