Crunch Fitness
Fitness · 550+ locations · US: 41 states + DC; Australia, Canada, Costa Rica, Puerto Rico
Crunch Fitness started as a Greenwich Village aerobics basement in 1989. It's now a 550-gym PE asset, passed from TPG to Leonard Green & Partners, with a California wage-suit trail behind it.
The Big Picture
Crunch is a PE asset with a wage-suit trail: California labor authorities cited 25 locations between 2018 and 2023 (dispositions not public), a 2025 suit alleges unpaid hours and overtime calculated without commissions, and franchisee-run gyms face their own wage actions. The 550-gym system is owned location-by-location by franchisees, but standards are set by Leonard Green & Partners, its second PE owner in six years. Members' dues and workers' conditions both answer to a fund's timeline.
The Dirty Details
Ownership
Leonard GreenPrivate Equity
Leonard Green & Partners is a Los Angeles PE firm with roughly $85 billion under management, known for consumer and retail buyouts. On Ferret it owns the majority of both PureGym (which absorbed Blink Fitness) and Crunch Fitness. It also took Life Time private in a $4B-plus buyout in 2015 alongside TPG, then sold most of that position down after the 2021 relisting. Its remaining stake was just under 5% as of June 2026, but two Leonard Green partners still sit on Life Time's board, including lead director John Danhakl.
Assets under management: ~$85B (December 2025)
See all Leonard Green companies on FerretWhat do these scores mean? Learn more.
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Company data last updated July 2026
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