ClassPass owner and EGYM to merge in deal backed by Jared Kushner’s firm

The owner of fitness booking app ClassPass and gym tech brand EGYM are set to merge in a deal valuing the combined business at 7.5 billion US dollars (£5.6 billion) and backed by Donald Trump’s son-in-law.

Playlist, which also owns booking service Mindbody, and EGYM, which uses artificial intelligence (AI) to create workouts, said they had agreed a deal.

The transaction includes 785 million US dollars (£586 million) in new equity investments led by Affinity Partners, with participation from a group of investors Vista Equity Partners, Temasek and L Catterton.

Affinity is a private equity business owned by Mr Trump’s son-in-law and former White House adviser Jared Kushner.

ClassPass, a fitness booking service, allows users to pay a monthly fee to access a number of classes at different gyms and studios globally. It was first launched in the US but entered the UK market in 2015.

Users can attend workouts like pilates, yoga and strength classes as part of their subscription. Bookings of pilates classes through the site are particularly popular, rising by 66% globally in 2025.

As well as ClassPass, Playlist is the parent company of MindBody and Booker, two other software platforms designed for the fitness and wellness industry.

Under the terms of the merger, EGYM will become a subsidiary within the Playlist portfolio.

Playlist chief executive Fritz Lanman and EGYM boss Philipp Roesch-Schlanderer will serve as co-founders of the new organisation once the merger has taken place.

Both companies make heavy use of AI to enhance their software, with EGYM using AI-enabled workout programming while Playlist’s subsidiaries use AI-driven software.

Mr Lanman said: “This merger represents a pivotal moment for both our companies as we continue to build the infrastructure behind the world’s most meaningful in-person wellness experiences.”