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Les Mills
Health Club Management

Health Club Management

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UNITING THE WORLD OF FITNESS
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Health Club Management

Health Club Management

News

Budget gym pioneer Planet Fitness shapes up for stock market listing

Low cost US chain Planet Fitness has announced it is to go public as it bids to turbocharge growth and ultimately reach 4,000 sites.

The chain is forecast to be valued at around US$1.58bn (€1.4bn, £1bn) in its initial public offering, having announced its intention to float on the New York Stock Exchange.

In a regulatory filing this week, the company said it expects the offering of 13.5 million class A shares to be priced at $14-$16 per share, raising up to US$216m (€197m, £138m). Planet Fitness is selling 9.1 million shares, while selling stockholders are offering the rest.

Planet Fitness – which is majority-owned by private equity firm TSG Consumer Partners – has in excess of 7 million members across 976 US gyms, most of which are franchised. The company was founded in 1992 by Michael Grondahl and was one of the earliest pioneers of the budget sector, with its most basic package currently costing just $10 (€9, £6.40) per month.

Planet Fitness has enjoyed strong returns in recent years, with revenue rising 33 per cent to reach US$279.8m (€255m, £179m) in 2014, as net income increased 45 per cent to US$37.3m (€34m, £24m).

The news of another public offering in the US fitness sector will no doubt cheer investors after the staggering response to Fitbit’s listing earlier this year. Wall Street was awash with excitement for the offering, which saw both the share count (34.5 million shares) and price range (US$20) increased due to demand, while shares jumped 60 per cent on opening.

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Low cost US chain Planet Fitness has announced it is to go public as it bids to turbocharge growth and ultimately reach 4,000 sites.
HAF,FIT,IND
688391_678463.jpg
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News

Budget gym pioneer Planet Fitness shapes up for stock market listing

Low cost US chain Planet Fitness has announced it is to go public as it bids to turbocharge growth and ultimately reach 4,000 sites.

The chain is forecast to be valued at around US$1.58bn (€1.4bn, £1bn) in its initial public offering, having announced its intention to float on the New York Stock Exchange.

In a regulatory filing this week, the company said it expects the offering of 13.5 million class A shares to be priced at $14-$16 per share, raising up to US$216m (€197m, £138m). Planet Fitness is selling 9.1 million shares, while selling stockholders are offering the rest.

Planet Fitness – which is majority-owned by private equity firm TSG Consumer Partners – has in excess of 7 million members across 976 US gyms, most of which are franchised. The company was founded in 1992 by Michael Grondahl and was one of the earliest pioneers of the budget sector, with its most basic package currently costing just $10 (€9, £6.40) per month.

Planet Fitness has enjoyed strong returns in recent years, with revenue rising 33 per cent to reach US$279.8m (€255m, £179m) in 2014, as net income increased 45 per cent to US$37.3m (€34m, £24m).

The news of another public offering in the US fitness sector will no doubt cheer investors after the staggering response to Fitbit’s listing earlier this year. Wall Street was awash with excitement for the offering, which saw both the share count (34.5 million shares) and price range (US$20) increased due to demand, while shares jumped 60 per cent on opening.

Sign up for FREE ezines & magazines
Low cost US chain Planet Fitness has announced it is to go public as it bids to turbocharge growth and ultimately reach 4,000 sites.
HAF,FIT,IND
688391_678463.jpg

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‘TRX® for Yoga’ education fuses suspension training and yoga, says Julian Woolley
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Fitness expert, Matt Roberts, has chosen Pavigym’s PRAMA system to create an immersive, personalised workout experience at his new gym at The Langley hotel in Berkshire
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fitness-kit.net
Lauren Heath-Jones rounds up the latest product launches in health and fitness
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Precor’s bikes are bringing success to a wide range of different health and fitness operations, from boutiques to trusts. We look at the latest examples
Features
feature
EMS training is having a major impact on the studio and gym market and being used by athletes, celebrities and also for rehabilitation. We talk to a select group of studio owners to hear how they’re maximising the versatility of this type of training
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The global health and fitness markets reached an all-time high in terms of memberships in 2018. IHRSA’s Melissa Rodriguez highlights the topline numbers for HCM
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The UK health and fitness industry has doubled in size since 2000. Will growth continue, or even gather pace? And what does this mean for the European health and fitness market? How big could it grow and what factors will have an impact? HCM asks those who have the most up to date research
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Featured supplier news
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MoveGB is a collaboration-based platform, but being a platform, one of the common worries we hear from our partners is about loss of customer ownership.
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Gympass has reinforced its leading position in the corporate fitness market, topping 2,000 fitness facilities available on its platform across the UK.
Opinion
promotion
As an industry, we still underestimate the power of a truly varied fitness regime - and the growing appetite for it, especially among emerging customer segments.
Opinion: Collaboration vs aggregation - what’s the difference?
Video Gallery
Harlands Group testimonial
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Company profile: Vital Tech
Vital Dome is the company’s patented and proprietary technology. Vital Tech has full control over ...
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The TVS Group supply and install sports and fitness flooring to a wide range of ...
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Click on a catalogue to view it online
Directory
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International SPA Association - iSPA: Trade associations
Audio visual
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Governing body
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Member access schemes
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Diary dates
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Les Mills
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