Franchise Equity Partners buys Planet Fitness' Australian operator Bravo Fit
What's the deal? Franchise Equity PartnersDealroom has a profile for this one. Try Dealroom → (FEP), a US private investment firm, has acquired Bravo FitDealroom has a profile for this one. Try Dealroom →, the Planet FitnessDealroom has a profile for this one. Try Dealroom → franchisee in Australia, from existing shareholders including Planet Fitness itself. As part of the deal, Planet Fitness exits its minority stake, while Bravo Fit's management team stays on to lead the business. Terms were not disclosed.
What does Bravo Fit do? The company operates 32 Planet Fitness clubs in Australia and holds exclusive development rights for up to roughly 100 more across Victoria, New South Wales, South Australia, Queensland, and the Australian Capital Territory. The overall target is more than 135 clubs nationwide.
Why now? Planet Fitness first entered Australia in 2019 and says its high-value, low-price model has resonated in the market. Selling to FEP frees up capital while keeping the brand's expansion on track under experienced ownership.
What's the endgame? FEP says its flexible capital will help Bravo Fit open clubs faster and invest in the member experience. The deal marks FEP's first investment in an Australian-headquartered business, following its acquisition of UK-based IMO Car Wash in early 2026.
"Bravo Fit is exactly the kind of partner FEP is built to support: a proven operator with a clear runway in a high-quality, globally recognized franchise system," said David O'Donnell, head of investments at FEP.
What changes for Planet Fitness? The exit lets Planet Fitness recycle capital while keeping its brand growing internationally through a franchisee partner. Chief executive officer Colleen Keating said the sale "validates our approach" of deploying capital in a "disciplined and focused manner" to expand in international markets.
Rob Coombe, a senior Australian executive, will serve as chairman of Bravo Fit. Danielle Monroy, chief executive officer of Bravo Fit, called the partnership "an important milestone" for the team as it works to open clubs faster without compromising standards.
The signal: The deal reflects a growing model in which brand franchisors offload direct ownership to specialist franchise investors, freeing capital while retaining reach. For FEP, it is a bet that Australia's fitness market and Planet Fitness' affordable format have room to run.
Read more: PR Newswire
Image credit: CrossfitPaleoDietFitnessClasses
