Is Life Time Fitness Private Equity Owned?
Life Time Fitness
Includes Life Time, LifeTime Fitness, LTF
luxury gym · Chanhassen, MN
2015
“They ripped out the basketball courts, tripled the dues, and called it a 'country club.'”
What Happened
- •Leonard Green & Partners and TPG took Life Time private for $4 billion in 2015
- •Went public again in 2021 at $1.2 billion below the take-private price; PE firms took a loss on paper
- •Monthly membership now exceeds $200/month at many locations, positioning it as luxury-only
- •Now publicly traded but the PE-era debt restructuring and pricing strategy remain
The Damage Done
- ▸Average monthly dues jumped from $135 to over $190 in three years, with premium locations now charging $275-$400/month — members report 5-10% annual increases with no ability to lock in pricing
- ▸Basketball courts are being ripped out and replaced with pickleball courts nationwide — members in Minnesota, Massachusetts, Indiana, and North Carolina have launched petitions, none of which stopped the conversions
- ▸Canceling requires 30 days' notice, first-year members may face termination fees, and each location has different policies — consumer complaints about gym subscription practices jumped 67% between 2021 and 2024
- ▸The company calls itself an 'athletic country club' but members at older locations report declining cleanliness, understaffing, and unresponsive management — premium prices without premium upkeep
Sources
Also owned by Leonard Green & Partners / TPG
View Leonard Green & Partners / TPG profile →More in Wellness & Personal Care
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Frequently Asked Questions
Is Life Time Fitness owned by private equity?
Not anymore. Life Time Fitness was formerly owned by Leonard Green & Partners / TPG starting in 2015, but the firm has since exited. The effects of PE ownership often linger.
What happened to Life Time Fitness after the acquisition?
Average monthly dues jumped from $135 to over $190 in three years, with premium locations now charging $275-$400/month — members report 5-10% annual increases with no ability to lock in pricing Basketball courts are being ripped out and replaced with pickleball courts nationwide — members in Minnesota, Massachusetts, Indiana, and North Carolina have launched petitions, none of which stopped the conversions
Who owns Life Time Fitness?
Life Time Fitness is owned by Leonard Green & Partners / TPG, which acquired it in 2015.