This afternoon Don Faul, CrossFit’s CEO, sent an email to CrossFit Affiliate owners informing them that CrossFit, LLC, has begun working with an advisor, Moelis & Company, to evaluate and review offers from potential buyers.
As part of the effort to find a new owner, Don Faul shared that he will be “very involved” in process.
Read the email sent to Affiliate owners this afternoon:
To our CrossFit Affiliates,
In 2020, Berkshire Partners acquired CrossFit, motivated by a strong belief in our methodology, brand, and our community. It is now time to seek out a new owner for our next phase of growth.
Our objective is to find the right partner-one with a connection to our community, an appreciation for our affiliate business model, and the passion and vision to lead us into the future.
As is typical in any sale process, CrossFit will be working with an advisor, Moelis & Company, to help review a wide range of potential buyers. These processes take time and we won’t be able to share details until its completion. In the meantime, there will be no changes to how we operate and work together.
This moment of transition comes with significant opportunity. I am personally going to be very involved in this process and I’m excited by the potential this holds for the future of our affiliate business and CrossFit overall.
We’ll be hosting an Affiliate Town Hall tomorrow, Thursday, March 13th at 9am PT / 12pm ET, to discuss this update.
Thank you for your continued support and dedication.
-Don
Moellis & Company is an investment bank that specializes in financial advisory services, including strategic initiatives such as mergers and acquisitions.
We, of course, knew it all along…
