Australian fitness giant F45 valued at $2b after Wall Street debut – Sydney Morning Herald

0
46

Mr Wahlberg holds a 40 per cent share in investment vehicle MWIG, which in turn has a 28.6 per cent stake in F45 that’s now worth an estimated $US417 million.

Australian low-cost online brokerage firm Stake has seen a surge of interest from local investors wanting to buy shares in F45 upon its listing. “[F45] started around the corner from our offices in Paddington, it’s a great Australian story,” Stake co-founder Matt Leibowitz said. “A lot of people go to F45 and have probably used it. It is one of the more popular listings and it is one that people understand as they have touched and felt it.”

While F45’s revenue fell by 11 per cent in 2020 to $82.3 million, the fitness chain did not take as big a hit from the pandemic as expected.

Of its 1555 outlets, 1415 had reopened as of June 30 this year and the chain said in its S-1 filing with the US Securities and Exchange Commission (SEC) that the remaining 9 per cent were generally located in regions that continued to face restrictions, which it expected to be lifted over time.

“Despite challenges posed by the COVID-19 pandemic, we grew our footprint and experienced minimal permanent closures during 2020, which we believe underscores the resilience of our business model,” the filing states.

Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here