World Leisure Jobs - F45 Training valued at US$1.4bn after IPO...
30 Jul 2021 World leisure: news, training & property
 
 
HOME
JOBS
NEWS
FEATURES
PRODUCTS
FREE DIGITAL SUBSCRIPTION
PRINT SUBSCRIPTION
ADVERTISE
CONTACT US
Sign up for FREE ezine
Latest news

20 Jul 2021

F45 Training valued at US$1.4bn after IPO
BY Tom Walker

F45 is part-owned by actor Mark Wahlberg and currently has nearly 1,500 studios in 63 countries

F45 is part-owned by actor Mark Wahlberg and currently has nearly 1,500 studios in 63 countries
photo: F45 Training

F45's IPO on the New York Stock Exchange (NYSE) has revealed a strong appetite from investors, with 18.75 million shares sold, priced at US$16 each, raising around US$300m and giving a market value of around US$1.5bn at float.

IPO statements suggest the company – F45 Training Holdings Inc – released 20 per cent of its shares.

These are now trading at US$13.75 (at 20 July 2021), indicating a company value of US$1.29bn – a 15 per cent drop.

The franchise studio operator said the funds will be used to repay debt and fuel growth, as well as paying the purchase price for its acquisition of assets of the Flywheel indoor cycling studio business.

F45, which currently has nearly 1,500 studios in 63 countries, plans to open up to 7,000 studios in the US and 23,000 globally.

Founded in 2012, F45 is part-owned by actor Mark Wahlberg.

BACKGROUND
In 2019, Wahlberg and FOD Capital, a fund managed by Michael Raymond, led a private equity investment in F45 through MWIG, a private investment vehicle.

F45 announced its plans to list on the NASDAQ in June 2020, after securing a deal with Crescent Acquisition Corporation (CAC), a special purpose acquisition company.

The two companies then terminated their agreement in October, with F45 CEO Adam Gilchrist saying that approaching the public markets at the time "was not the right option for F45".

"We believe there is a significant opportunity to meaningfully expand our franchise studio footprint in the United States," F45 Training said at the time.

"As of March 31, 2021, we had 941 franchises sold and 518 total studios in the US.

"Prior to the COVID-19 pandemic, we had seen the pace of our US growth accelerate, with average net franchises sold per month increasing from 12 in 2017 to 18 in 2018 to 32 in 2019.

"Due to COVID-19, the average net franchises sold per month decreased in 2020 to 10.

"Based on current franchises sold in Australia per capita as of March 31, 2021, we believe there is long-term studio potential for us to open over 7,000 studios in the US.

"As of March 31, 2021, we had 630 franchises sold outside of our core markets of the United States and Australia. Based on an extrapolation of current franchises sold in Australia per capita as of March 31, 2021, we believe there is a long-term global opportunity for over 23,000 studios, with a potential for approximately 16,000 studios outside of the US market.

"We believe we can continue to grow our international presence through our existing franchising strategy and by opportunistically pursuing master franchising agreements to sell select territories to experienced, local partners."



Connect with
World Leisure
Magazine:
View issue contents
Sign up:
Instant Alerts/zines

Print edition
 

News headlines
ukactive: government’s Disability Strategy "falls short"
ukactive: government’s Disability Strategy   30 Jul 2021

Industry body ukactive has joined the chorus of organisations across a number of sectors calling the government's new National Disability Strategy a .... more>>
BestFit continues on the acquisition trail – buys EuroFit
BestFit continues on the acquisition trail – buys EuroFit   30 Jul 2021

German fitness operator BestFit Group has acquired regional gym chain EuroFit for an undisclosed sum. The deal will see BestFit add all five .... more>>
Preidlhof celebrates the healing power of silence with five new journeys
Preidlhof celebrates the healing power of silence with five new journeys   30 Jul 2021

Italian destination spa Preidlhof in South Tyrol has been certified as a “Quiet Stay” by Quiet Parks International, a non-profit organisation .... more>>
Jorvik's global art project will connect 14 cities
Jorvik's global art project will connect 14 cities   29 Jul 2021

The Jorvik Group has launched a major global art project which will connect 14 cities around the world. Working in partnership with the York Guild .... more>>
Company profile


Fitronics (CoursePro and TRP)

Fitronics is the company behind The Retention People (TRP) and CoursePro. We truly understand our customers' needs and challenges and become an invaluable extension of their team.

View full profile>>

Catalogue gallery


Featured Supplier

HydraFacial: more than just a device

HydraFacial: more than just a device

HydraFacial works in harmony with topical skincare lines and treatment services already carried in the spa, naturally increasing post-treatment retail sales for your chosen brand partners. More>>




in this issue

• Virgin gets right to wipe out rent arrears
• Fitness industry mourns passing of Jan Spaticchia
• STA offers mindfulness resources



World Leisure jobs




Duty Manager
Salary: Competitive
Location: Buckingham
Company: Everyone Active
Fitness & Duty Manager
Salary: Competitive
Location: Buckingham
Company: Everyone Active
General Manager truGym
Location: Stockton-on-Tees, UK
Company: truGym
Lead Swimming Teacher
Salary: Up to £27,125.00 per annum
Location: London Borough of Richmond, UK
Company: Springboard Swimmers
Diary dates
Powered by leisurediary.com

02-03 Aug 2021

Spa Life International (UK)

The Woodlands Conference Centre, Wyboston, United Kingdom


09-13 Sep 2021

Cosmoprof Worldwide Bologna

Fair District, Bologna, Italy



Leisure Management magazine 2018 issue 1
Leisure Management
2018 issue 1

View issue contents
View on turning pages
Download PDF
  Interview: Louis D’Amore
Louis D’Amore on the work of the International Institute for Peace through Tourism More>>
  Environment: Back to nature
British wildlife is being attacked on many fronts. Stephanie Hilborne, CEO of The Wildlife Trusts, wants to involve everyone in preserving nature More>>


Leisure Management magazine 2016 issue 1

Leisure Management
2016 issue 1

View issue contents
View turning pages
Download PDF
  New opening: Future of leisure
Selby Summit focuses on activity, not sport. Is it a new era for leisure centres? More>>
  Interview: Craig Lister
Green Gym’s managing director is harnessing the power of gardening More>>


Published by Leisure Media Tel: +44 (0)1462 431385 | Contact us | About us | © Cybertrek Ltd