TLT advises UK shareholders of Barry’s in connection with the private equity investment by Princeton Equity Group

National law firm TLT has advised the UK shareholders of global fitness brand Barry’s on their participation in the transaction which saw a fresh investment by private equity firm Princeton Equity Group.

Barry’s is a global boutique fitness brand known for its testing HIIT workouts and commitment to a premium client experience. The business has 89 studios around the world, including nine across the UK and Ireland.

This transaction involved new investment from private equity firm Princeton Equity Group. The funding will allow the business to consolidate operations, invest in the client experience and support the brand’s growth ambitions in the US and abroad.

TLT advised the UK shareholders on all aspects of their participation in the transaction. The team was led by partners Philip Barratt and Gareth Oldale, with support from senior associate Kirsty Wilson. The deal also required advice and guidance from across the firm including the tax and real estate teams.

Commenting on the deal, corporate partner, Philip Barratt said: “The pandemic heavily impacted the fitness and leisure sector, with repercussions still being felt for many operating in the industry today. Barry’s well-established brand and unique offering helped carry the group through lockdown and since then has grown significantly across the world.

“Despite a tough socio-economic market and ongoing pressures on the fitness industry, the investment in Barry’s demonstrates the value of well-established businesses. We are optimistic that 2025 will see an increase in private equity activity and transaction volumes, and in that context, this transaction marks a great start to the year.

“We wish the group every success as it embarks on the next step of its growth journey.”