Deals
Flywheel Sports Taken Over by Lender, Exploring Sale
- The boutique fitness company is working with Houlihan Lokey
- Flywheel also considering expansion of at-home bike sales
FlyWheel indoor cycling class in Manhattan, New York.
Photographer: Yana Paskova/bloomberg
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A lender to boutique fitness studio operator Flywheel Sports has seized control of the company and is working with an adviser to gauge interest from potential buyers, according to people familiar with the matter.
Kennedy Lewis Investment Management LLC, a New York-based investment firm, took over Flywheel and its board last month, said the people, who asked not to be named because the matter is private. Kennedy Lewis owns roughly 75 percent of the company, which has more than 40 studios that stretch from the Hamptons to West Hollywood and are known for their high-intensity indoor cycling and barre classes.