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🟡 FORMERLY PE OWNED
Life Time Fitness
luxury gym · Chanhassen, MN
PE Firm
Leonard Green & Partners / TPG
Year Acquired
2015
“Taken private for $4 billion. Membership prices: also taken to new heights.”
What Happened
- •Leonard Green & Partners and TPG took Life Time private for $4 billion in 2015
- •Went public again in 2021 at $1.2 billion below the take-private price; PE firms took a loss on paper
- •Monthly membership now exceeds $200/month at many locations, positioning it as luxury-only
- •Now publicly traded but the PE-era debt restructuring and pricing strategy remain
The Damage Done
- â–¸Average monthly dues jumped 32% in a single year, from $135 in Q4 2021 to $162 in Q4 2022
- â–¸New memberships hit $208/month average by February 2023, with premium locations running $179-$329/month
- ▸Pricing out the middle-class fitness market — Life Time is now exclusively luxury positioning