F45 float moves one step closer

By Nick Hall | 20 Jan 2020 View comments

Australian-born fitness giant F45 has reportedly moved one step closer to a multi-million dollar listing in the US. First reported by Bloomberg last week, the proposed F45 float comes just months after A-lister Mark Wahlberg took a minority stake in the booming functional fitness franchise.

According to reports, F45 filed confidentially for an initial public offer in the US, in search of a deal that could significantly alter the global fitness landscape.

The chain already boasts more than 1700 outlets across over 40 countries worldwide, however a proposed IPO arrangement could fund the next stage of aggressive growth.

F45 float reports

It’s not the first time equity and investment rumours have circled the Aussie success story. In 2018, the franchise was linked to Quadrant Private Equity’s Fitness & Lifestyle Group, however a deal was never reached.

Fast-forward to 2019, and once again, gossip swirled. The AFR reported that US-based Blackstone PE was priming for a deal, as was Burger King backer TPG Growth, but in a strikingly similar outcome, arrangements failed to fire.

This time around, it seems F45 is on the offence. The company, which last March was valued at $600m is reportedly aiming to have the IPO come as soon as the first half of the year, Bloomberg reported.

However, the organisation also revealed that co-founder Adam Gilchrist had declined to comment on any IPO plans. Instead, he suggested that the company was “continuously exploring ways to help franchisees accelerate same-store sales growth”.

F45 growth

The proposed F45 float is a significant boost to the Sydney-born operation. Since launching in 2012, the franchise has swelled to become one of the fastest-growing franchises worldwide.

Gilchrist, along with co-founder Rob Deutsch relocated the headquarters to Los Angeles in 2017, targeting the US as a major growth region.

A new IPO listing would certainly bolster those plans, however sources close to Bloomberg reportedly said a final decision was still yet to be made, and plans could change.