BRS & Co. Signs Agreement to Sell EōS Fitness
May 12, 2025
New York – May 12, 2025 – BRS & Co. (“BRS”), a private equity firm investing in lower middle market consumer companies, announced today that it has executed a definitive agreement to sell portfolio company, EōS Fitness (“EōS” or the “Company”), a leading US operator of High Value Low Price (“HVLP”) gyms, to TSG Consumer Partners (“TSG”), a private equity firm focused exclusively on the consumer sector. After the acquisition, EōS Chief Executive Officer Rich Drengberg will continue to lead the Company with his tenured executive team.
EōS is a HVLP gym chain that provides fitness memberships at affordable prices with a full-service amenity set including cutting-edge strength and cardio equipment, diverse group fitness offerings, personal training, recovery therapies, saunas, swimming pools, basketball courts, cardio theaters and childcare. The Company has more than 175 gym locations open or in development across the US.
Rich Drengberg, EōS Fitness CEO, said, “With BRS’s support, we have refined and evolved our offering to deliver exceptional value, high-end health and fitness experiences and sense of community to more than 1.5 million loyal members nationwide. We look forward to partnering with TSG for the next stage of our journey.”
Bruce Bruckmann, BRS Co-founder and Managing Director, said, “Together with Rich and his team, we have grown EōS from 16 mid-priced franchised gyms to a national branded leader in the HVLP fitness landscape. We thank Rich and his team for their dedicated leadership and look forward to their continued success.”
Rashad Rahman, BRS Managing Director, said, “It has been a pleasure working with Rich and his executive team over the past decade to build the EōS brand and roll out the concept into numerous new geographies. We wish management well as they embark on this next phase of the Company’s growth.”
Milbank LLP provided legal counsel to BRS. Piper Sandler & Co. served as the lead financial advisor to EōS, with Robert W. Baird & Co. also acting as financial advisor. Milbank LLP served as EōS’ legal counsel. The transaction is subject to customary closing conditions and regulatory approval.
About EōS Fitness
EōS Fitness, a leader in the fitness industry with its High Value Low Price (HVLP) gyms, is an inclusive and welcoming organization committed to empowering exercise practitioners of all experience levels. With more than 175 gym locations open and on the way in Arizona, Florida, Georgia, Nevada, Southern California, Texas and Utah, EōS Fitness is rapidly expanding. Providing serious fitness options, EōS Fitness offers the best equipment, high-energy workout classes, top-notch amenities and extensive personal training options starting at just $9.99 per month. www.EoSfitness.com.
About BRS & Co.
BRS is a New York-based private equity investment firm with a combined capital invested of $1.2 billion, focused on investing in lower middle market consumer goods and services businesses. Since 1996, BRS has purchased over 50 portfolio companies for aggregate consideration of over $6.9 billion. In addition, BRS portfolio companies have completed over 40 add-on acquisitions. For more information, please visit https://brs.com/
About TSG Consumer Partners
Founded in 1986, TSG Consumer Partners, LP is a leading consumer-focused private equity firm with approximately $14 billion in assets under management. Leveraging the firm’s deep knowledge of the consumer, TSG partners with founders and management teams to accelerate growth and build iconic, best-in-class brands. TSG has investment offices in San Francisco, New York and London. For more information, visit tsgconsumer.com.