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An IPO isn't the only way to launch a nationwide expansion. The same week that Soulcycle filed its IPO, embarking on a plan to establish a total 250 cycling studios across the country, comes news that Barry's Bootcamp has received significant funding from private equity firm North Castle Partners. While the exact financials were not disclosed, we know that it translates to one thing: More gyms.
Part of the deal also bumped up hot trainer and COO Joey Gonzalez to CEO. "I've dedicated much of my professional career to growing Barry's Bootcamp and am honored to step into the role of CEO," he said in the press release. "It's a dream come true to see this vision to fruition and expand the business while maintaining the ethos that makes it special to consumers."
Well + Good caught up with Gonzalez (he's decamping from New York to Los Angeles—sad face emoji—to set up a new headquarters there), who specified that the fitness brand is looking to build out as many as eight more studios here over the next 18 months, bringing their New York City total to 12.
Up first its is big Upper East Side studio, with space to accommodate 50 students, that's scheduled to open at the end of the year. They previously opened in Noho last fall, where founder Barry Jay told us that he's not afraid of a little competition.