Australian fitness giant F45 goes public in the US
Australian fitness giant F45 Training is set to go public in the US, with the business set to be listed on Wall Street.
F45 Training will merge with Crescent Acquisition Corp before it is listed on NASDAQ with a value of more than a billion dollars.
The merger is expected to take place in the next few months.
The company will continue to be run by Adam Gilchrist, who shares his name with the cricketer, but is no relation.
"F45's mission is to improve people's lives and well-being, and the company was founded to make unique, effective and high-quality training accessible to everyone, while empowering franchisees to run successful businesses," Mr Gilchrist said in a statement.
"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 program."
The fitness company has 500 outlets in Australia, and nearly 2000 around the world.
F45 specialises in high-intensity workouts over 45 minutes.
A former schoolboy rugby star, Mr Gilchrist has also bought two American rugby teams, and named them after cocktails that he also named after himself, the Austin Gilgronis and the Los Angeles Giltinis.
Mr Gilchrist founded the company with Rob Deutsch and Luke Istomin in 2012, but neither are still involved with running the company.
Among the company's investors is Hollywood actor Mark Wahlberg, who bought a minority stake last year.
Read more: 'How I lost 13kgs in 8 weeks': F45 Challenge winner speaks