F45 Training
Corporate brand
UnclaimedAn Australian-founded global fitness franchise built around 45-minute functional training sessions.
Last updated August 31, 2026
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Overview
F45 Training is an Australian-founded fitness franchising and studio-operations business whose name refers to 45-minute functional training sessions. Its model combines high-intensity interval training, circuit training and functional exercises, generally delivered in small-group classes that rotate participants through multiple exercise stations. Sessions can emphasize cardiovascular conditioning, strength, resistance or mixed-modal training, with programming and station layouts changing frequently to provide variety. The business developed from a studio in Paddington, Sydney, where Luke Istomin and Rob Deutsch worked on the operating concept. Adam Gilchrist later joined Deutsch as a business partner and helped turn the studio format into a franchise system. F45 sold its first franchise in 2013 and began a broader Sydney rollout in 2014, initially attracting franchisees from the original studio community. The company subsequently expanded beyond Australia, selling its first New Zealand franchise and its first United States studio in 2015. India also became an early international market, with the Hyderabad opening supported by cricket figures Brett Lee and VVS Laxman. International development accelerated from 2017 onward. F45 entered the United Kingdom with a substantial initial franchise program and began establishing a European presence in markets including Finland, Switzerland, the Czech Republic and Germany. Its United States growth also included a collegiate partnership initiative intended to introduce the brand to university communities. By 2019, agreements covering additional markets in the Middle East and Africa had taken the network to more than 40 countries. Reference material describes the broader system as having approximately 1,600 studios across more than 60 countries, with roughly 240 Australian studios and about 1,000 North American studios in 2024. F45 has expanded its brand portfolio beyond its original group-training format. In 2021 it introduced FS8, a Pilates-and-yoga-influenced concept using circuit-based sessions. In 2022 it acquired Vive Active, a Pilates studio business that was subsequently associated with the Vaura Pilates name. These moves reflected an effort to address adjacent boutique-fitness categories while retaining the company's franchise-oriented operating model. The company also attracted outside investment and public-market attention. In 2019, the Mark Wahlberg Investment Group and FOD Capital announced a minority investment that valued F45 at approximately US$450 million. F45 Training Holdings became publicly traded in July 2021 at a reported valuation of about US$1.4 billion. The subsequent period was difficult: the company reported large losses, experienced studio closures and workforce reductions, undertook restructuring, and faced investor concerns and listing-compliance problems. Adam Gilchrist stepped down as chief executive in 2022, with Tom Dowd later becoming CEO and Mark Wahlberg taking a chief brand officer role. F45 announced in August 2023 that it would delist from the New York Stock Exchange after its share price had declined substantially and the company received warnings concerning continued listing standards. The brand nevertheless remains an operating fitness franchise. Its principal proposition continues to be instructor-led, technology-supported, community-oriented functional training delivered in short, repeatable sessions through franchised and affiliated studios.
History
F45's origins trace to a studio opened in Paddington, Sydney, in 2012. Luke Istomin and Rob Deutsch developed the workout and studio model around short, varied functional-training sessions. After the initial studio gained traction, Deutsch brought in Adam Gilchrist, whose experience with franchising helped convert the concept into a scalable network business. The first franchise was sold in 2013, and in 2014 the company began a wider Sydney rollout, with 15 franchises reportedly purchased by members of the original Paddington community. The first international franchise was sold in New Zealand in 2015. That year also brought the first United States studio and an early Indian expansion, including an opening in Hyderabad and subsequent activity in other major Indian cities. Luke Istomin left F45 in 2016 to establish another fitness franchise. F45 entered the United Kingdom in 2017, selling 50 franchises, including locations in London, Brighton, Bournemouth, Birmingham and Manchester. From 2017 to 2018, the company pursued a European growth strategy with studios in Finland, Switzerland, the Czech Republic and Germany. It also increased its United States presence through a collegiate program involving partnerships with American colleges. In 2019, additional agreements in Afghanistan, Iraq, Kenya and Mauritius helped extend the reported network to more than 40 countries. The same year, the Mark Wahlberg Investment Group and FOD Capital announced a minority investment in the company. Rob Deutsch left F45 in 2020. In 2021 the company launched FS8, an adjacent concept focused on Pilates-, yoga- and circuit-style training, and F45 Training Holdings became publicly traded on the New York Stock Exchange. The public-company period was followed by financial and operational difficulties, including significant reported losses, studio closures, layoffs and restructuring. Adam Gilchrist stepped down as CEO in 2022, and Tom Dowd subsequently became CEO. Mark Wahlberg, an investor and public representative of the brand, was named chief brand officer. F45 expanded into Pilates through its 2022 acquisition of Vive Active, later associated with Vaura Pilates. In August 2023 the company announced that it would delist from the NYSE after its share price had fallen sharply and it faced listing-standard concerns. In 2024, David Beckham sued F45 over alleged nonpayment under a global brand-ambassador arrangement; the case was settled out of court. Despite the corporate and financial setbacks, F45 continues to operate as a global fitness franchise with a large studio network.
- 2023
NYSE delisting
[1]F45 announces its delisting from the New York Stock Exchange following a severe share-price decline and listing-compliance concerns.
- 2022
Leadership transition and Pilates acquisition
[1]Adam Gilchrist leaves the CEO position, Tom Dowd later assumes the role, and F45 acquires Vive Active.
- 2021
Public listing and FS8 launch
[1]F45 Training Holdings lists on the NYSE and launches FS8 as an adjacent Pilates- and yoga-influenced training concept.
- 2019
Network exceeds 40 countries
[1]New agreements in the Middle East and Africa expand F45's reported international footprint beyond 40 countries.
- 2017
United Kingdom entry
[1]The company enters the United Kingdom with 50 franchises sold across London and several regional cities.
- 2015
International expansion begins
[1]F45 sells its first franchises in New Zealand and the United States and opens its first Indian location in Hyderabad.
- 2014
Sydney franchise rollout
[1]F45 begins a broader Sydney rollout, reportedly selling 15 franchises to members of the original studio.
- 2013
First franchise sold
[1]The studio concept is converted into a franchise business with Adam Gilchrist participating as a business partner.
- 2012
First F45 studio opens in Paddington
[1]Luke Istomin and Rob Deutsch establish the first studio in Sydney's Paddington district and develop the functional-training format.
Products and positioning
A community-oriented boutique fitness franchise positioned around efficient, varied, coach-led functional training in 45-minute group sessions.
Functional fitness classes · 2013
F45 Training workouts
The core F45 offering consists of 45-minute instructor-led sessions combining functional movements, HIIT and circuit training. Participants typically move through multiple stations using equipment such as kettlebells, dumbbells, medicine balls, resistance bands, battle ropes, bikes, rowers, sleds and pull-up bars. Programming varies between cardio, resistance and hybrid sessions.
Pilates- and yoga-influenced fitness studios · 2021
FS8
FS8 is an adjacent studio concept launched by F45 in 2021. It uses circuit-based sessions influenced by Pilates and yoga, extending the company into lower-impact and mind-body-oriented boutique fitness while retaining a structured group-class format.
Pilates studios · 2022
Vaura Pilates
Vaura Pilates is the name associated with the Pilates business acquired by F45 in 2022 through the purchase of Vive Active. It represents F45's move into a more specialized Pilates studio proposition beyond its original functional-training network.
Controversies
Marketing campaigns
- 2017United Kingdom franchise rollout
United Kingdom
F45 launched its United Kingdom expansion with 50 franchises sold, including a concentration in London and additional locations in Brighton, Bournemouth, Birmingham and Manchester.
Outcome. Created a significant initial British franchise pipeline.
- 2017Collegiate Program
United States
F45 partnered with American colleges as part of a collegiate growth initiative designed to introduce the brand to university communities and younger consumers.
Outcome. Supported the brand's United States expansion strategy.
- 2015India market launch
India
F45 entered India with support from Australian cricketer Brett Lee and Indian cricketer VVS Laxman. The first location opened in Hyderabad, followed by expansion into other major Indian cities.
Outcome. Established an early South Asian market presence.
Brand decisions
2023
Delist from the New York Stock ExchangeStrategyBackground
F45 faced a steep share-price decline and warnings related to NYSE continued-listing requirements.
Action taken
F45 Training Holdings announced that it would delist from the NYSE.
Aftermath
The company ceased being a publicly traded NYSE issuer while the operating fitness brand continued.
2022
Acquire Vive ActiveM&ABackground
The company sought greater exposure to Pilates and adjacent boutique studio categories.
Action taken
F45 acquired Vive Active, which subsequently became associated with Vaura Pilates.
Aftermath
The acquisition extended F45's portfolio beyond group functional training.
2021
Launch FS8Product launchBackground
F45 sought to broaden its boutique-fitness portfolio beyond its core functional-training format.
Action taken
The company introduced FS8, a Pilates- and yoga-influenced circuit-training concept.
Aftermath
FS8 gave F45 an adjacent offering aimed at customers seeking a different training emphasis.
2019
Accept minority investmentM&ABackground
F45 pursued capital and visibility as its international franchise network expanded.
Action taken
The Mark Wahlberg Investment Group and FOD Capital announced a minority investment in the business.
Aftermath
The transaction was reported to value F45 at approximately US$450 million and preceded the company's later public listing.
Reported business valuation. US$450 million (2019)
Recent events
Sources3 sources
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