Aussie fitness phenomenon F45 Training has been become a publicly listed company on the US Stock Exchange and closed the first day’s trading with a market value of US$1.46bn.
The NYSE listing comes after the fitness juggernaut shelved plans last year to float the business, and the 2020 departure of co-founder and CEO Rob Deutsch.
The AFR reports F45 opened trading with shares at $US17, up 1.3 per cent from the offer price of $US16.20.
In video footage shared by F45 on LinkedIn, co-founder and current CEO Adam Gilchrist said “I’ve been living this moment for many, many years. Without the franchisees we wouldn’t be standing here, they are the engine of this company.
“We have such a portable business, it transcends languages, religions, geographies. Being a public company we will have the horsepower and the engine that will enable us to really accelerate growth.”
Hollywood A-lister Mark Wahlberg invested in the business back in 2019, through investment group MWIG LLC. He holds a 26 per cent stake of the group’s membership interests, according to AFR.
Commenting on the fitness brand’s US float, Walhberg said “I’ve just made it my mission to create the awareness for F45, if they want results, this is where they come. This is where they come to be supported and loved, and cheered, and so we’re going to continue to do that and we’re going to continue to educate the entire world in the best workout, and that’s F45.”
Other celebrity minority investors reportedly include Magic Johnson Jr, David Beckham, Greg Norman and Cindy Crawford.
The business has more than 1500 outlets globally and is now headquartered in Texas.
