POST YOUR JOB ONLINE
Free ezine/digital edition sign up
Jobs   News   Features   Video    Products   Magazine      Advertise  
NEWS
F45 reveals plans to list on NASDAQ – valued at US$845m
POSTED 25 Jun 2020 . BY Tom Walker
Since its launch in 2013, F45 has rapidly scaled its global footprint to more than 1,900 franchises sold in more than 50 countries Credit: F45

Credit: Crescent Capital Group
F45’s high-profit margins, exceptional franchisee economics and repeatable business model position it for continued rapid expansion
– Robert Beyer
Australian HIIT chain F45 is set to list on the US-based NASDAQ stock exchange, after securing a deal with Crescent Acquisition Corporation (CAC), a special purpose acquisition company.

The deal will see the two companies merge and seek a listing during the third quarter of this year (2020). The combined company will be valued at around US$845m (AU$1.23bn).

F45 had been mulling over an initial public offering for a while but was forced to abandon its plans due to the coronavirus pandemic.

CAC was formed by Crescent Capital Group for the purpose of the merger and listing.

In a statement released jointly, the companies said: "We have entered into a definitive agreement under which CAC will acquire F45 to create a leading publicly-traded global fitness training and lifestyle brand.

"The transaction will accelerate F45’s continued global expansion, driven by its highly attractive and scalable franchise model, technology-enabled platform and optimized studio design.

"Upon closing of the transaction, which is expected in the third quarter of 2020, the combined company will retain the F45 Training Holdings Inc. name and will trade on the NASDAQ exchange."

Existing F45 shareholders are expected to be issued approximately 53.3 million shares in the combined company and paid up to US$204m in cash consideration.

Current F45 shareholders will hold approximately 60 per cent of the combined company at closing. The transaction is still subject to receipt of all requisite regulatory approvals, and approvals by CEC's and F45’s stockholders.

Commenting on the deal, F45 CEO Adam Gilchrist said: "As a public company, I am confident that we will be able to accelerate our mission, while creating value for our shareholders.

"We look forward to continuing to disrupt our industry and to inspire even more people to achieve their health and fitness goals through F45’s innovative workouts, combined with our nutrition programme.”

Robert Beyer, executive chairman of Crescent Acquisition Corp, added: “F45’s high-profit margins, exceptional franchisee economics and repeatable business model position it for continued rapid expansion.

"We are confident that F45’s strong member loyalty and consistently innovative and differentiated workouts will continue to prevail in many new and existing markets around the world.”

The combined company will continue to be led by the F45 top team led by CEO Adam Gilchrist, chief financial officer Chris Payne and chief operating officer Heather Christie.

Its board of directors will include the current members of the F45 board and Crescent Acquisition Corp’s sponsor will name two individuals to serve as directors.

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

Since its launch in 2013, F45 has rapidly scaled its global footprint to more than 1,900 franchises sold in more than 50 countries. It currently has more than 1,200 studios open in 40 countries, including the US Australia, Canada and the UK.

F45 founder, Rob Deutsch, recently announced that he would be stepping down from the business and his role as CEO.
RELATED STORIES
F45 continues UK expansion amid stock market listing rumours


F45 is expanding its UK footprint with the launch of two new studios in Manchester.
F45 to open franchised studio at Everyone Active centre


Fitness Franchise F45 has signed a partnership deal with Everyone Active, which will see F45- branded studios open at publicly-owned leisure centres.
F45 enters Iraq and Afghanistan, expands further in Africa


Australian fitness franchise F45 has secured deals to open sites in emerging markets across the Middle East and Africa – taking the number of countries it operates in to more than 40.
MORE NEWS
Exclusive: HCM talks to Rainer Schaller about buying Gold’s Gym
Rainer Schaller, founder of budget gym megabrand McFIT, says that the global fitness industry will have to prepare for permanent life with COVID-19 – but that the future will also present plenty of opportunities for the sector.
Arena gets US$5.2m seed financing to enter connected strength training market
Fitness startup Arena Innovation has secured US$5.2m worth of seed funding, as it looks to launch its robotically-assisted resistance training product to the market.
EuropeActive to publish new study on COVID-19 cases and health club visits
Further research into the levels of positive COVID-19 cases among those to have visited fitness clubs and leisure facilities is currently being developed by EuropeActive.
Revolutionary new Passivhaus leisure centre gets the go-ahead. Will reduce energy costs by 60%
Planning approval has been granted to what is set to become one of the first wet and dry Passivhaus-certified leisure centres in the world.
+ More news   
LATEST JOBS
Fitness Motivator
Everyone Active
Salary: Competitive
Job location: Newbold Comyn Leisure Centre, Leamington Spa , United Kingdom
Fitness Instructor (Part-time)
énergie fitness
Salary: Competitive
Job location: Warrington, UK
Fitness Motivator and Personal Trainer
Everyone Active
Salary: Competitive
Job location: The Grange Community & Leisure Centre, Midhurst, UK , United Kingdom
Fitness Motivator and Personal Trainer
Everyone Active
Salary: Competitive
Job location: Frogmore Leisure Centre, Yateley, UK , United Kingdom
Self-Employed Personal Trainer
Coach Gyms
Salary: Self Employed
Job location: Leeds / Harrogate, UK , United Kingdom
+ More jobs  

FEATURED SUPPLIERS

A new world for memberships
During lockdown clients have had more time to self-reflect than ever before. As a result, many are prioritising mental health and incorporating activity into their day to improve overall wellbeing. [more...]

miha bodytec EMS-PT: an irresistible way to boost your in-club offer
Post pandemic, technology continues to shape the way consumers access fitness. Apps and wearables are helping people reach their goals while digital offerings – which grew exponentially during lockdowns – continue to thrive. [more...]
+ More featured suppliers  
COMPANY PROFILES
Keiser UK LTD

For more than four decades, Keiser has influenced the training of athletes, fitness enthusiasts an [more...]
+ More profiles  
CATALOGUE GALLERY
 
+ More catalogues  

VIDEO GALLERY

PENDEX | Simply Ingenious
It trains humans better than humans train humans. Find out more...
+ More videos  

DIRECTORY
+ More directory  
DIARY

 

24-25 Jul 2021

Active Aging Summit

Online / virtual, United States
25-26 Jul 2021

The Les Nouvelles Esthetiques Spa Conference 2021

The Houghton Hotel, Johannesburg, South Africa
+ More diary  
 
ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
 
HCM
LEISURE OPPORTUNITIES
HEALTH CLUB HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2021
Jobs   News   Products   Magazine
NEWS
F45 reveals plans to list on NASDAQ – valued at US$845m
POSTED 25 Jun 2020 . BY Tom Walker
Since its launch in 2013, F45 has rapidly scaled its global footprint to more than 1,900 franchises sold in more than 50 countries Credit: F45
Credit: Crescent Capital Group
F45’s high-profit margins, exceptional franchisee economics and repeatable business model position it for continued rapid expansion
– Robert Beyer
Australian HIIT chain F45 is set to list on the US-based NASDAQ stock exchange, after securing a deal with Crescent Acquisition Corporation (CAC), a special purpose acquisition company.

The deal will see the two companies merge and seek a listing during the third quarter of this year (2020). The combined company will be valued at around US$845m (AU$1.23bn).

F45 had been mulling over an initial public offering for a while but was forced to abandon its plans due to the coronavirus pandemic.

CAC was formed by Crescent Capital Group for the purpose of the merger and listing.

In a statement released jointly, the companies said: "We have entered into a definitive agreement under which CAC will acquire F45 to create a leading publicly-traded global fitness training and lifestyle brand.

"The transaction will accelerate F45’s continued global expansion, driven by its highly attractive and scalable franchise model, technology-enabled platform and optimized studio design.

"Upon closing of the transaction, which is expected in the third quarter of 2020, the combined company will retain the F45 Training Holdings Inc. name and will trade on the NASDAQ exchange."

Existing F45 shareholders are expected to be issued approximately 53.3 million shares in the combined company and paid up to US$204m in cash consideration.

Current F45 shareholders will hold approximately 60 per cent of the combined company at closing. The transaction is still subject to receipt of all requisite regulatory approvals, and approvals by CEC's and F45’s stockholders.

Commenting on the deal, F45 CEO Adam Gilchrist said: "As a public company, I am confident that we will be able to accelerate our mission, while creating value for our shareholders.

"We look forward to continuing to disrupt our industry and to inspire even more people to achieve their health and fitness goals through F45’s innovative workouts, combined with our nutrition programme.”

Robert Beyer, executive chairman of Crescent Acquisition Corp, added: “F45’s high-profit margins, exceptional franchisee economics and repeatable business model position it for continued rapid expansion.

"We are confident that F45’s strong member loyalty and consistently innovative and differentiated workouts will continue to prevail in many new and existing markets around the world.”

The combined company will continue to be led by the F45 top team led by CEO Adam Gilchrist, chief financial officer Chris Payne and chief operating officer Heather Christie.

Its board of directors will include the current members of the F45 board and Crescent Acquisition Corp’s sponsor will name two individuals to serve as directors.

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

Since its launch in 2013, F45 has rapidly scaled its global footprint to more than 1,900 franchises sold in more than 50 countries. It currently has more than 1,200 studios open in 40 countries, including the US Australia, Canada and the UK.

F45 founder, Rob Deutsch, recently announced that he would be stepping down from the business and his role as CEO.
RELATED STORIES
F45 continues UK expansion amid stock market listing rumours


F45 is expanding its UK footprint with the launch of two new studios in Manchester.
F45 to open franchised studio at Everyone Active centre


Fitness Franchise F45 has signed a partnership deal with Everyone Active, which will see F45- branded studios open at publicly-owned leisure centres.
F45 enters Iraq and Afghanistan, expands further in Africa


Australian fitness franchise F45 has secured deals to open sites in emerging markets across the Middle East and Africa – taking the number of countries it operates in to more than 40.
MORE NEWS
Exclusive: HCM talks to Rainer Schaller about buying Gold’s Gym
Rainer Schaller, founder of budget gym megabrand McFIT, says that the global fitness industry will have to prepare for permanent life with COVID-19 – but that the future will also present plenty of opportunities for the sector.
Arena gets US$5.2m seed financing to enter connected strength training market
Fitness startup Arena Innovation has secured US$5.2m worth of seed funding, as it looks to launch its robotically-assisted resistance training product to the market.
EuropeActive to publish new study on COVID-19 cases and health club visits
Further research into the levels of positive COVID-19 cases among those to have visited fitness clubs and leisure facilities is currently being developed by EuropeActive.
Revolutionary new Passivhaus leisure centre gets the go-ahead. Will reduce energy costs by 60%
Planning approval has been granted to what is set to become one of the first wet and dry Passivhaus-certified leisure centres in the world.
Wexer launches into wellness in partnership with Mind123
Digital fitness content provider Wexer is launching a new wellness resource on its connected Web Player.
Active-net goes pan-European with hybrid events
Leisure-net has revealed plans to transform its active-net business event from an annual face-to-face gathering into a monthly hybrid event.
+ More news   
 
FEATURED SUPPLIERS

A new world for memberships
During lockdown clients have had more time to self-reflect than ever before. As a result, many are prioritising mental health and incorporating activity into their day to improve overall wellbeing. [more...]

miha bodytec EMS-PT: an irresistible way to boost your in-club offer
Post pandemic, technology continues to shape the way consumers access fitness. Apps and wearables are helping people reach their goals while digital offerings – which grew exponentially during lockdowns – continue to thrive. [more...]
+ More featured suppliers  
COMPANY PROFILES
Keiser UK LTD

For more than four decades, Keiser has influenced the training of athletes, fitness enthusiasts an [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  

VIDEO GALLERY

PENDEX | Simply Ingenious
It trains humans better than humans train humans. Find out more...
+ More videos  

DIRECTORY
+ More directory  
DIARY

 

24-25 Jul 2021

Active Aging Summit

Online / virtual, United States
25-26 Jul 2021

The Les Nouvelles Esthetiques Spa Conference 2021

The Houghton Hotel, Johannesburg, South Africa
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2021

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS