Boutique fitness brand, Barry's – which indicated last June that it was looking for a new backer – has announced new strategic investment from Princeton Equity Group, a private equity firm focused on investing in and growing franchisor and multi-location companies.

Princeton's investment will allow Barry's to expand to more communities, enhancing the health and wellbeing of individuals globally, as well as support the continued growth and consolidation of the UK and Canadian markets. A significant pipeline of sites has been identified.

Current backer, North Castle Partners, which has backed the business since 2015, is exiting.

"Barry's is a brand that has consistently withstood the test of time, thanks to its unique, results-driven workout and an extraordinary community that has supported us over two decades," said Joey Gonzalez, Co-CEO of Barry's.

"Our ability to adapt and innovate – especially through the challenges of the pandemic – has been critical in keeping our members engaged and motivated. With Princeton's investment, we're poised to share the magic of Barry's with even more people, while staying true to what makes us special."

Barry's combines a high-energy, full-body workout with a mood-boosting sensory experience. Thanks to a strategic investment from North Castle Partners in 2015, the brand has since seen exponential growth. Founded in 1998 by Barry Jay, John Mumford and Rachel Coxton, it now has 89 studios globally that saw more than seven million visits in 2024, as well as Barry’s X digital workout.

In addition to on-studio and digital classes, Barry's also gets revenue from its Fuel Bars and retail offerings.

Jim Waskovich, managing partner of Princeton, says: "Barry's has successfully combined world-class fitness with an incredible sense of belonging, and we are excited to support the team as they bring this experience to meet the demand of clients around the world.

"Princeton has long admired Barry's unique fitness programme and the brand's incredible growth achieved over the last 25-plus years," said Jack Nagle, principal at Princeton. "Barry's unwavering commitment to quality, excellence and its dedicated global community has set the brand apart in the fitness industry. We look forward to working with the Barry's team to continue to build on its legacy and support its continued growth and success worldwide."

Princeton Equity Group manages US$1.3 billion of assets, including a number of wellness businesses such as Massage Envy, The Stretch Zone and Woodhouse Day Spa.