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Buyout (LBO, MBO, MBI) • Healthcare Services

Berkshire Partners Acquires CrossFit

On July 24, 2020, private equity firm Berkshire Partners acquired healthcare services company CrossFit

Acquisition Context
  • This is Berkshire Partners’ 3rd transaction in the Healthcare Services sector.
  • This is Berkshire Partners’ 73rd transaction in the United States.
  • This is Berkshire Partners’ 2nd transaction in Arizona.

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M&A Deal Summary
Date July 24, 2020
Target CrossFit
Sector Healthcare Services
Buyer(s) Berkshire Partners
Deal Type Buyout (LBO, MBO, MBI)

Target Company

CrossFit

Prescott, Arizona, United States
CrossFit is a platform to improve health, happiness, and performance. CrossFit is committed to creating a welcoming and inclusive environment for everyone, and millions of people have already experienced CrossFit’s transformational benefits through workouts in more than 14,000 affiliated gyms across 158 countries. CrossFit also operates the annual CrossFit Open, through which athletes at every level compete worldwide, culminating in the CrossFit Games where top athletes compete for the title of Fittest on Earth. CrossFit was formed in 1974 and is based in Prescott, Arizona.
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Buyer Overview 1

Buyer

Berkshire Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Berkshire Partners is a private equity firm focused on investing in businesses with strong management and that lead their respective markets. Berkshire will consider investments in both public and private companies. Prospective transactions for private companies include leveraged buyouts, recapitalizations, growth capital financings, and privatizations. Public company transactions include take-privates, PIPEs, and equity stakes. Berkshire generally looks to invest $150 to $500 million of equity capital per transaction in companies valued up to $2 billion. Sectors of interest include industrial manufacturing, consumer products, retailing, transportation, communications and business services. Berkshire Partners was formed in 1984 and is based in Boston, Massachusetts.

Deal Context for Buyer #
Overall 83 of 106
Sector: Healthcare Services 3 of 4
Type: Buyout (LBO, MBO, MBI) 9 of 9
State: Arizona 2 of 2
Country: United States 73 of 94
Year: 2020 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Vi-Jon Laboratories

St. Louis, Missouri, United States

Vi-Jon Laboratories is a manufacturer of private label personal care products in the U.S. The Company produces private label products across a broad range of personal care categories including mouthwash, soaps, hand sanitizers, first aid, baby care, and hair care. Vi-Jon Laboratories was founded in 1908 and is based in St. Louis, Missouri.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-31 Vet Strategy

Woodbridge, Ontario, Canada

Vet Strategy is a provider of Veterinary practice management services partnering with veterinarians and enabling them to focus on practicing first-rate medicine. Vet Strategy is based in Scarborough, Ontario.

Buy -

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