Xponential Fitness, a roll-up of franchised boutique fitness brands with over 1,750 studios in North America, filed on Friday with the SEC to raise an estimated $100 million.
Xponential Fitness states that it is a curator of leading boutique fitness brands across multiple verticals, and the largest boutique fitness franchisor in the US with over 1,750 studios operating across nine distinct brands. Its diversified portfolio spans a variety of fitness and wellness verticals, including Pilates, barre, cycling, stretch, rowing, yoga, boxing, dance, and running. Across its system, over 850,000 unique consumers completed nearly 20 million in-studio, live stream and virtual workouts in 2020.
The Irvine, CA-based company was founded in 2017 and booked $104 million in revenue for the 12 months ended March 31, 2021. It plans to list on the NYSE under the symbol XPOF. BofA Securities, Jefferies, Morgan Stanley, Guggenheim Securities, Citi, and Piper Sandler are the joint bookrunners on the deal. No pricing terms were disclosed.
