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SoulCycle Owner In Talks For Investment To Boost Competition With Peloton: Reports

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SoulCycle Owner In Talks For Investment To Boost Competition With Peloton: Reports

Fitness club company and SoulCycle owner Equinox is close to reaping an investment from private equity firm Silver Lake to help it expand its at-home exercise platform to better compete with Peloton Interactive Inc (NASDAQ: PTON).

Bloomberg reported Thursday afternoon that luxury gym operator Equinox is working with an advisor to secure the investment, but didn't identify the source of the information on the private talks.

The report also said Equinox was looking for new investors because some members boycotted its health clubs after part-owner Stephen Ross hosted a re-election fundraiser for President Donald Trump.

In a separate report Friday morning, Equinox Executive Chairman Harvey Spevak told Axios in an email, "Just remember don’t believe everything you read:)"

The funding deal could be completed this month, the report said.

Peloton shares were down 0.8% Friday, trading at $27.65.

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Photo credit: Ajay Suresh via Wikimedia

 

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