October 23, 2025

CR Fitness Holdings Secures Major Investment for Expansion

Tampa, October 23, 2025

News Summary

CR Fitness Holdings has successfully secured a $350 million strategic investment from Sixth Street to enhance its growth plans. This funding will facilitate the addition of over 100 Crunch Fitness clubs in the next five years, focusing on locations in Texas and Florida. Key developments include opening 24 new locations this year, renovations of acquired sites, and the introduction of the new Crunch 3.0 design aimed at providing a superior member experience. CEO Tony Scrimale emphasizes a member-first culture as the company prepares to create significant job opportunities.

Tampa — CR Fitness Holdings has secured a $350 million strategic investment from global investment firm Sixth Street. The capital will support an aggressive expansion to add more than 100 Crunch Fitness clubs over the next five years, with immediate plans and financing structures to accelerate openings and renovations.

Deal summary and immediate impact

The investment will fuel CR Fitness’s expansion plans to add more than 100 Crunch Fitness clubs over the next five years. The transaction structure keeps North Castle Partners, which has been a major investor in CR Fitness since 2019, will remain the largest shareholder alongside Sixth Street. The deal also includes a new senior debt facility provided by Golub Capital.

CR Fitness operates nearly 90 clubs across the U.S. and leads the Crunch system in unit count and sales volume. As part of the plan for this year, the company plans to open 24 new locations this year, including nine former 24 Hour Fitness sites in Florida. The roll-out will include both new-build locations and conversions of acquired sites to the Crunch brand.

Market context and category performance

The move comes as the high-value, low-price (HVLP) gym category continues to outperform the fitness industry, with HVLP gyms seeing record visitation levels. Industry tracking shows HVLP clubs are experiencing 22% higher traffic compared to pre-pandemic levels, particularly among Gen Z. CR Fitness and Crunch position expansion to capture this rising demand in the HVLP segment.

Partnerships and local growth

CR Fitness includes Dallas Cowboys quarterback Dak Prescott as a partner, who supports the expansion of HVLP gyms in Dallas and plans to open nine new locations in Texas by the end of 2026. Company leadership has identified Texas and Florida as priority states, and the firm also announced that CR Fitness plans to expand into Arizona as part of its growth strategy.

Leadership and investor commentary underline a focus on experience and culture rather than short-term gains. CEO of CR Fitness, Tony Scrimale, emphasizes the importance of a member-first culture and mentions the talented team of regional leaders contributing to its growth. On the investor side, Jenny Walsh from Sixth Street notes that the firm sees significant growth potential for CR Fitness, aligning on values focused on member experience and long-term growth.

Renovations, brand design and amenities

The parent brand has rolled out a redesigned concept. Crunch Fitness, CR Fitness’s parent company, has introduced a redesign called Crunch 3.0, aiming to enhance the member experience with new premium amenities. One high-profile project following that design is the upcoming Crunch Forney facility: The upcoming Crunch Forney facility, a $12 million investment, will feature the new 3.0 design and is projected to open in 2026.

Crunch Forney will offer a variety of fitness amenities, including dedicated group fitness studios, a HIITZone™ training area, and HydroMassage® beds. The company is also converting acquired sites: CR Fitness is also acquiring nine 24 Hour Fitness locations across Florida, which will undergo renovations to adopt the Crunch brand’s new design and offers.

Scale, membership and workforce effects

Citing system-level growth, Crunch Fitness has increased its membership base by 176% since 2019, exceeding 3 million members worldwide. Locally targeted openings are expected to have employment impact, as the planned openings in the Dallas-Fort Worth area aim to create over 600 new job opportunities.

The company has also received industry recognition, with CR Fitness has been recognized with various awards, including Tony Scrimale being named “CEO of the Year” by North Castle for the second time in four years. The brand continues to emphasize an inclusive approach to fitness, noting that Crunch Fitness is known for its philosophy of making serious exercise fun and fostering a diverse fitness community.

Company location and expansion footprint

CR Fitness Holdings is based in Tampa and has stepped up its expansion throughout various states, enhancing fitness options in Florida and increasing its operations. The planned openings and conversions are intended to expand the brand’s geographic footprint while modernizing facilities under the Crunch 3.0 design.

Frequently Asked Questions

How much did CR Fitness Holdings secure from Sixth Street?: CR Fitness Holdings has secured a $350 million strategic investment from global investment firm Sixth Street.
What will the investment fund?: The investment will fuel CR Fitness’s expansion plans to add more than 100 Crunch Fitness clubs over the next five years.
Who are the major investors after the deal?: North Castle Partners, which has been a major investor in CR Fitness since 2019, will remain the largest shareholder alongside Sixth Street.
Is there additional financing included in the deal?: The deal includes a new senior debt facility provided by Golub Capital.
What is the current size of CR Fitness’ club base?: CR Fitness operates nearly 90 clubs across the U.S. and leads the Crunch system in unit count and sales volume.
How many new locations will open this year?: The company plans to open 24 new locations this year, including nine former 24 Hour Fitness sites in Florida.
Are there notable partners involved in expansion?: CR Fitness includes Dallas Cowboys quarterback Dak Prescott as a partner, who supports the expansion of HVLP gyms in Dallas and plans to open nine new locations in Texas by the end of 2026.
What design and amenity changes are planned?: Crunch Fitness, CR Fitness’s parent company, has introduced a redesign called Crunch 3.0, aiming to enhance the member experience with new premium amenities.
What is Crunch Forney and when will it open?: The upcoming Crunch Forney facility, a $12 million investment, will feature the new 3.0 design and is projected to open in 2026.
What membership growth has Crunch Fitness seen?: Crunch Fitness has increased its membership base by 176% since 2019, exceeding 3 million members worldwide.
Is CR Fitness acquiring any existing clubs?: CR Fitness is also acquiring nine 24 Hour Fitness locations across Florida, which will undergo renovations to adopt the Crunch brand’s new design and offers.
What job impact is expected in the Dallas-Fort Worth area?: The planned openings in the Dallas-Fort Worth area aim to create over 600 new job opportunities.
What market category is CR Fitness targeting?: The high-value, low-price (HVLP) gym category continues to outperform the fitness industry, with HVLP gyms seeing record visitation levels.
How are HVLP clubs performing versus pre-pandemic levels?: HVLP clubs are experiencing 22% higher traffic compared to pre-pandemic levels, particularly among Gen Z.
Where is CR Fitness Holdings based?: CR Fitness Holdings is based in Tampa and has stepped up its expansion throughout various states, enhancing fitness options in Florida and increasing its operations.

Key details
Feature	Detail
Investment	CR Fitness Holdings has secured a $350 million strategic investment from global investment firm Sixth Street.
Planned new clubs	The investment will fuel CR Fitness’s expansion plans to add more than 100 Crunch Fitness clubs over the next five years.
Current footprint	CR Fitness operates nearly 90 clubs across the U.S. and leads the Crunch system in unit count and sales volume.
Openings this year	The company plans to open 24 new locations this year, including nine former 24 Hour Fitness sites in Florida.
Crunch Forney	The upcoming Crunch Forney facility, a $12 million investment, will feature the new 3.0 design and is projected to open in 2026.
Membership growth	Crunch Fitness has increased its membership base by 176% since 2019, exceeding 3 million members worldwide.
HVLP performance	HVLP clubs are experiencing 22% higher traffic compared to pre-pandemic levels, particularly among Gen Z.
Job impact	The planned openings in the Dallas-Fort Worth area aim to create over 600 new job opportunities.

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Additional Resources

Author: STAFF HERE DALLAS WRITER

The DALLAS STAFF WRITER represents the experienced team at HEREDallas.com, your go-to source for actionable local news and information in Dallas, Dallas County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the State Fair of Texas, Deep Ellum Arts Festival, and Dallas International Film Festival. Our coverage extends to key organizations like the Dallas Regional Chamber and United Way of Metropolitan Dallas, plus leading businesses in telecommunications, aviation, and semiconductors that power the local economy such as AT&T, Southwest Airlines, and Texas Instruments. As part of the broader HERE network, including HEREAustinTX.com, HERECollegeStation.com, HEREHouston.com, and HERESanAntonio.com, we provide comprehensive, credible insights into Texas's dynamic landscape.

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