Mark Wahlberg invests in Australian fitness chain F45
The Australian fitness chain F45 Training has attracted major star power with Hollywood actor and entrepreneur Mark Wahlberg to take a minority stake in the expanding company.
A deal has been signed in the US with the Mark Wahlberg Investment Group and FOD Capital to take a stake in the company which began in Australia and now operates in 40 countries.
There are now 1500 of the high intensity training studios around the world for the business which was started in 2012.
The sale of a stake is the second time that F45 has looked to partner with a major investor after it initially looked for a buyer in 2016. F45 was the fastest growing franchise in Australia in 2017.
It had Deutsche Bank and Ernst and Young shop the business around the world since October to bring on board an investor to help drive its expansion into the US.
It had been speculated that a private equity group would buy into the F45 business.
The Mark Wahlberg Investment Group is an investor in the Ultimate Fighting Championship (UFC), StockX and FOD Capital is a US based family office investment fund.
F45 founders Rob Deutsch and Adam Gilchrist will remain with the business. Mr Deutsch, a former equities trader, has estimated in the past that each F45 studio has annual revenue of about $400,000.
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