Franchise Equity Partners has acquired Bravo Fit, the exclusive Planet Fitness franchisee across several Australian markets, from its existing shareholders. Planet Fitness exited its minority ownership position in Bravo Fit as part of the transaction. Financial terms were not disclosed.
Bravo Fit’s management team will continue leading the business and overseeing its expansion throughout Australia.
Bravo Fit currently operates 32 Planet Fitness clubs and holds exclusive development rights for up to approximately 100 locations across Victoria, New South Wales, South Australia, Queensland and the Australian Capital Territory. The new ownership structure is intended to provide the company with flexible capital for opening additional clubs and investing in the member experience.
Planet Fitness said Bravo Fit has played a central role in establishing its high-value, low-price fitness model in Australia. The brand entered the market seven years ago and is now targeting a network of more than 135 clubs across the country over time.
The transaction represents Franchise Equity Partners’ first investment in an Australian-headquartered company. It follows the firm’s January 2026 acquisition of IMO Car Wash, a UK-based company with operations in Australia.
Franchise Equity Partners specializes in investing in franchise operators and franchisors across multi-unit consumer sectors. The firm provides capital for expansion, ownership simplification, succession planning and other strategic initiatives.
The investment firm already has experience with Planet Fitness through a minority position in a U.S.-based franchise group. Its acquisition of Bravo Fit gives it full ownership of a Planet Fitness franchisee operating in one of the fitness brand’s international growth markets.
Bravo Fit plans to use the partnership to accelerate new club openings while maintaining its existing operating standards and company culture. The business also expects to invest further in its employees and services as it expands into additional communities.
Planet Fitness initially invested alongside Bravo Fit to help introduce the brand in Australia. The company said the sale of its minority interest reflects its strategy of using capital selectively to establish and grow the brand in international markets before transitioning ownership to experienced franchise investors.
Rob Coombe will become chairman of Bravo Fit following the transaction. He has more than 40 years of experience in financial services and consumer businesses, including previous leadership roles at BT Financial Group and Craveable Brands.
Craveable Brands is one of Australia’s largest franchised quick-service restaurant operators. Coombe’s experience scaling consumer franchise systems is expected to support Bravo Fit’s development strategy.
Planet Fitness had approximately 21.5 million members and 2,909 clubs as of March 31, 2026. Its locations span all 50 U.S. states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico, Australia and Spain.
Approximately 90% of Planet Fitness clubs are owned and operated by independent franchisees. The company’s model emphasizes accessible pricing and a welcoming environment intended to appeal to a broad range of fitness customers.
Franchise Equity Partners manages approximately $1.5 billion in assets. The Bravo Fit acquisition further diversifies its international portfolio and expands its exposure to the health and fitness franchise sector.
Mallesons, PwC and Davis Wright Tremaine advised Franchise Equity Partners. Hall & Wilcox and Intrepid Investment Bankers advised Bravo Fit’s shareholders.
KEY QUOTES:
“We are thrilled by the performance of the Planet Fitness brand in Australia since first entering the market seven years ago. 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.”
Colleen Keating, CEO of Planet Fitness
“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.”
“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.”
David O’Donnell, Managing Director and Head of Investments at Franchise Equity Partners
“This partnership with FEP is an important milestone for our entire team. 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.”
Danielle Monroy, CEO of Bravo Fit
