How an Unusual Fitness Deal Came Together

Three executives were at a health and fitness industry conference last March, but it was in Las Vegas, so they were drinking old-fashioneds when they hatched a cross-border deal to create a fitness company worth $7.5 billion that spanned subscription and scheduling apps, plus equipment.

The three whiskey drinkers were Fritz Lanman, CEO of Playlist, the company behind fitness subscription apps ClassPass and Mindbody; Philipp Roesch-Schlanderer of Munich-based Egym, which makes fitness equipment; and Marc Magliacano of L Catterton, a consumer-focused buyout fund.