Franchise Equity Partners (FEP) has acquired Bravo Fit, a leading Australian Planet Fitness franchisee, marking FEP’s first investment in an Australian-headquartered business. Bravo Fit currently operates 32 Planet Fitness clubs across Australia. The transaction sees Planet Fitness exit its minority ownership stake in Bravo Fit. Bravo Fit’s management team will remain in place to guide the business’s expansion in the region.

David O’Donnell, FEP’s managing director and head of investments, expressed enthusiasm for the partnership, highlighting Bravo Fit’s operational success and the growth potential within the Planet Fitness franchise system. FEP has prior experience with Planet Fitness, having been a minority partner in a U.S. franchise group. This acquisition signifies FEP’s commitment to becoming a full-scale franchise owner in a significant global fitness market.

Rob Coombe will assume the role of chairman for Bravo Fit. FEP received advisory services from Mallesons, PwC, and Davis Wright Tremaine LLP. Bravo Fit shareholders were advised by Hall & Wilcox and Intrepid Investment Bankers. Financial terms of the acquisition were not disclosed.