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Private equity firms circle Peloton for potential buyout

May 7, 2024

A number of private equity firms have been considering a buyout of Peloton as the connected fitness company looks to refinance its debt and get back to growth after 13 straight quarters of losses, CNBC has learned.

Firms have zeroed in on how to cut Peloton’s operating expenses to make a buyout more attractive. Last week, Peloton announced a broad restructuring plan that’s expected to reduce its annual run-rate expenses by more than $200 million by the end of fiscal 2025.

Shares of Peloton soared more than 18% in premarket trading after CNBC’s report was published. Shares closed more than 15% higher. CNBC