Who Owns F45 Training Company?

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Who Really Calls the Shots at F45 Training?

Ever wondered who steers the ship at one of the world's fastest-growing fitness franchises? The F45 Training SWOT Analysis reveals much about its strategic direction, but understanding its ownership is key. From its Australian roots to its global expansion, the F45 company's journey is a fascinating case study in corporate evolution.

The story of F45 Training is one of rapid growth and significant shifts in F45 ownership. This exploration will dissect the F45 ownership structure, from the initial vision of the F45 founder to the impact of major investors and the challenges faced by the F45 company. Understanding the evolution of F45 stock and its financial performance is crucial for anyone interested in the fitness industry's competitive landscape.

The story of the F45 Training company began in 2012 in Sydney, Australia, with co-founders Rob Deutsch and Adam Gilchrist. The initial vision was to create a unique fitness model that combined elements of high-intensity interval training (HIIT), circuit training, and functional fitness. The first studio was established in Paddington, Sydney, where Deutsch focused on developing the fitness methodology.

Following the success of the initial studio, Deutsch brought in Adam Gilchrist as a business partner. Gilchrist's expertise in franchising was crucial to the company's rapid expansion. Together, they aimed to provide an accessible, community-focused workout experience that offered an alternative to traditional personal training. This approach was key to their early success and growth.

The F45 Training company quickly adopted a franchise model to scale its business. The first franchises were sold in Sydney in 2014, with many of the initial buyers being members of the original Paddington studio. This early focus on franchising allowed the company to grow quickly, expanding both within Australia and internationally.

Founders

The F45 Training was co-founded by Rob Deutsch and Adam Gilchrist.

First Studio

The first studio opened in Paddington, Sydney, in 2012.

Franchise Rollout

The company began its franchise rollout in Sydney in 2014.

Early Expansion

The first offshore franchise was sold in New Zealand in 2015.

Franchise Growth

Within two years, F45 had reached 250 franchises in the Oceania region.

Early Backers

Early investors included friends and family, with initial franchises often sold to members of the founding studio.

The F45 Training company's early ownership structure primarily involved the founders and early investors, including friends and family. While the specific equity splits at the beginning are not publicly detailed, the focus was on rapid expansion through franchising. By 2017, the company had expanded significantly, with over 250 franchises in the Oceania region. For a deeper dive into the target audience, check out this article on the Target Market of F45 Training. As of early 2024, the company continues to operate with a global presence, although it has faced financial challenges and restructuring. The company's stock price has fluctuated, reflecting the changing market conditions and internal strategic shifts. The F45 franchise cost varies, but the initial investment can be substantial, and potential franchisees should carefully consider the financial implications. The F45 Training company's leadership team has also seen changes, with new executives taking on key roles to navigate the evolving fitness landscape. The company's headquarters are currently located in Austin, Texas. The F45 company continues to evolve its business model, focusing on technology and community to maintain its competitive edge.

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The ownership structure of F45 Training, a global fitness franchise, has seen significant shifts since its inception. In March 2019, an investment group, including actor Mark Wahlberg and FOD Capital, acquired a minority stake, valuing the company at approximately US$450 million (AU$672 million). This investment was aimed at boosting F45's global expansion, particularly in the U.S. market, and increasing brand visibility. The Competitors Landscape of F45 Training has evolved alongside these ownership changes.

F45 Training went public on July 15, 2021, listing on the NYSE under the ticker FXLV. The initial market capitalization was about $1.4 billion. The IPO involved offering 18,750,000 shares of common stock at $16.00 per share, which raised $324.96 million. At the time of the IPO, key stakeholders included MWIG LLC (Mark Wahlberg Investment Group) with a 27% stake and co-founder Adam Gilchrist holding about 25% of the outstanding shares. Private equity firms also held an 11% stake.

Post-IPO, F45 faced financial difficulties, reporting a net loss of $52.7 million for the fiscal year 2022 and an accumulated deficit of $161.9 million as of December 31, 2022. As of June 10, 2025, the stock price was $0.08, with a market capitalization of $7.8 million. The company voluntarily delisted from the NYSE, transitioning to the OTC Markets. In March 2025, F45 announced the launch of FIT House of Brands, a new parent company to manage its fitness brands, including F45 Training, FS8, and VAURA Pilates.

Key Takeaways on F45 Ownership

F45 Training's ownership structure has changed significantly from private investment to public listing and back.

• Mark Wahlberg and co-founder Adam Gilchrist were major shareholders.
• The company faced financial challenges post-IPO, leading to delisting.
• FIT House of Brands now serves as the parent company for F45 and other brands.
• The current market capitalization is significantly lower than at the IPO.

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The board of directors for F45 Training includes a mix of individuals, such as major shareholders, the F45 founder, and independent members. As of March 2023, the board comprised Adam Gilchrist, Mark Wahlberg, Ben Coates, Gene Davis (board chair), Elizabeth Josefsberg, Michael Raymond, Timothy Bernlohr, Lisa Gavales, Steven Scheiwe, and Ray Wallander. Adam Gilchrist, a co-founder, remained on the board as a director even after stepping down from his roles as President, CEO, and Chairman in July 2022. Ben Coates served as interim CEO before Tom Dowd was appointed CEO in March 2023, with Mark Wahlberg also taking on the role of Chief Brand Officer.

The current composition of the board reflects the evolution of F45 Training as a company. The presence of both founders and individuals with significant ownership stakes, like Mark Wahlberg, suggests a continued focus on brand development and strategic direction. The board's structure and the influence of key shareholders are essential factors in understanding the F45 ownership and the company's decision-making processes. Understanding the F45 company's leadership team is crucial for anyone interested in the F45 stock.

Information regarding specific voting structures, such as dual-class shares or special voting rights, isn't readily available in recent public disclosures. However, at the time of the IPO, MWIG LLC and co-founder Adam Gilchrist held significant ownership stakes, with MWIG LLC holding about 27% and Gilchrist holding about 25%. These holdings gave them considerable influence over company decisions. There have been no specific public reports of recent proxy battles or activist investor campaigns. However, a class action lawsuit was filed against F45 Training Holdings Inc. in late 2022/early 2023 concerning alleged false statements regarding franchise growth and financial sustainability. This information is crucial for understanding the F45 ownership structure and the potential impact on F45 franchise owners.

Key Takeaways on F45 Training's Board and Voting Power

The board of directors includes founders, major shareholders, and independent members, reflecting a mix of interests and expertise. Key shareholders, such as MWIG LLC and Adam Gilchrist, held substantial influence, impacting strategic decisions.

• The board's composition and the influence of major shareholders are important to understand the F45 ownership.
• The F45 founder's role and the presence of Mark Wahlberg highlight the continued focus on brand development.
• While specific voting structures aren't fully disclosed, significant ownership concentration suggests considerable control.
• The class action lawsuit filed against the company highlights potential risks and concerns.

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Over the past few years, the ownership landscape of F45 Training has shifted significantly. A notable move was the voluntary delisting from the New York Stock Exchange in late 2024. This decision was made to address financial challenges. The F45 company reported a net loss of $52.7 million for the fiscal year 2022.

In a strategic move, F45 Training appointed Tom Dowd as CEO in March 2023, with Mark Wahlberg taking on the role of Chief Brand Officer. This leadership restructuring aimed to refocus the brand strategy. In March 2025, F45 Training announced the creation of FIT House of Brands, a new parent company. This expansion includes FS8 and VAURA Pilates, indicating a broader strategy to become a comprehensive health and wellness provider, including recovery services.

Despite past financial hurdles, 2024 marked a year of growth and innovation for F45 Training. The company saw a significant increase in global membership lead volume and franchise inquiries. These positive trends suggest efforts to stabilize and diversify the business. For more details, you can explore the Growth Strategy of F45 Training.

Leadership Changes

Tom Dowd became the CEO in March 2023. Mark Wahlberg took on the role of Chief Brand Officer. This new leadership aimed to refine the business model and expand offerings.

Financial Performance

The company reported a net loss of $52.7 million in 2022. The trailing twelve-month revenue as of June 30, 2023, was $63.9 million. Market capitalization was $7.8 million as of June 10, 2025.

Strategic Expansion

FIT House of Brands was created as a parent company in March 2025. This expansion includes FS8 and VAURA Pilates. The goal is to become a "solution headquarters" for health and wellness.

Recent Growth

In 2024, there was a 12.4% global AUV growth. They opened 75 new studios. Franchise inquiries also increased by 23% in 2024.

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