Planet Fitness files for Initial Public Offering

industry news fitness

The initial public offering of the fitness chain Planet Fitness from the USA is planned to raise up to USD 100 million for the company’s current owners.

The company intends to apply for a listing on New York Stock Exchange. J.P. Morgan, Bank of America Merrill Lynch, Jefferies and Credit Suisse are in charge for the transaction as lead underwriters.

Planet Fitness is a fitness franchise concept with currently 976 clubs and 7.1 million members. It is positioned in the budget segment with membership fees starting at USD 10 per month. In 2014, Planet Fitness and its franchisors generated revenues of USD 269.8 million. Since the acquisition by TSG Consumer Partners in 2012 at a price of USD 479.3 million, the operator could almost double its member base and the club count increased by 61% from 606.

Source: Planet Fitness SEC Prospekt, Quartz (qz.com)
Image: Planet Fitness

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