Franchise Equity Partners Acquires Bravo Fit, Planet Fitness' Australian Franchisee

Australian market growth

Bravo Fit has been central to introducing the Judgement Free® model to members across the country and operates a number of Planet Fitness clubs in Victoria, New South Wales, South Australia, Queensland, and the Australian Capital Territory. The arrangement supports Bravo Fit's continued operations and preserves the operating culture developed by the team.

The acquisition marks FEP's first investment in an Australian-headquartered business and follows FEP's January 2026 acquisition of IMO Car Wash, a UK-headquartered business with operations in Australia.

"We are thrilled by the performance of the Planet Fitness brand in Australia since first entering the market seven years ago," said Colleen Keating, Chief Executive Officer at Planet Fitness. "We partnered with Bravo Fit initially to bring our brand promise of high-value, low-price fitness to the region, and our model has resonated well in the country. The success we've seen to date demonstrates one of the ways we can successfully deploy capital in a disciplined and focused manner to drive Planet Fitness' expansion in international markets.

The sale of our ownership stake in Bravo Fit to FEP validates our approach, and we are confident that FEP and Bravo Fit will continue to further scale Planet Fitness' presence and growth in Australia."

"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, Managing Director, Head of Investments at FEP. "We have established experience with Planet Fitness as a minority partner in a U.S.

-based franchise group, and we are excited by the opportunity to become a full-scale franchise owner in one of the world's most attractive fitness markets. Our flexible capital and experience scaling franchise businesses are designed to help the management team accelerate that buildout while preserving the operating discipline and member focus that have made Bravo Fit successful.

For Bravo Fit's founding team, the partnership with FEP marks the next chapter in a business built around long-term conviction in the Planet Fitness franchise model and the Australian market.

"This partnership with FEP is an important milestone for our entire team," said Danielle Monroy, Chief Executive Officer of Bravo Fit. "Over the past several years we have built a business defined by operational discipline and a genuine commitment to our members and our people. We look forward to benefitting from FEP's expertise in scaling franchises as we work to open clubs faster, invest in our team and continue bringing the Planet Fitness brand and experience to more communities across Australia — without compromising the standards that have gotten us here."

In connection with the transaction, Rob Coombe will serve as Chairman of Bravo Fit. Mr. Coombe is a senior Australian executive with more than 40 years of experience across financial services and consumer businesses, including as former Chief Executive Officer of BT Financial Group and as former Chief Executive Officer and Chairman of Craveable Brands, one of Australia's largest franchised quick-service restaurant operators.

FEP partners with leading franchisees and franchisors across multi-unit consumer-related sectors, providing flexible capital to support ownership simplification, succession, and estate planning. With the addition of Bravo Fit, FEP diversifies its portfolio internationally in a manner consistent with its core strategy.

Terms of the transaction were not disclosed. FEP was advised by Mallesons, PwC, and Davis Wright Tremaine LLP. The Bravo Fit shareholders were advised by Hall & Wilcox and Intrepid Investment Bankers.