“As a public company, I am confident that we will be able to accelerate … "In the current market circumstances, it was a very significant achievement for all concerned to get this deal away," Arnold Bloch Leibler’s lead commercial partner Jonathan Wenig said.Cara is the small business editor for The Age and The Sydney Morning Herald based in MelbourneAustralian fitness giant F45 to go public in US after mergerFounder Rob Deutsch stepped down as chief executive of F45 earlier this year. F45 Gyms began as a joint venture between Mr Gilchrist and Rob Deutsche, who is the face of the brand, in 2012. Living space looks out on the stunning Wategos BeachThe backyard has a swimming pool with shaded areas and room for sun loungers while the big kitchen has marble counter tops and wooden paneling.The Gilchrist family are no strangers to Wategos beach, as Mr Gilchrist's grandfather bought one of the first Marine Parade subdivisions 50 years ago. Mr Gilchrist bought Wategos House on Marine Parade, Byron Bay for a record-breaking $18.9 million. The beachfront property has six bedrooms, four bathrooms and a swimming poolWategos House has stunning beachfront views, wooden floors, open plan kitchen and a spacious living area that open up onto Wategos Beach. Mr Gilchrist married his wife across the road from his new house at exclusive boutique retreat Rae’s on Wategos. "Last year F45 grew its revenue by 60 per cent year on year to $US93 million with an adjusted earnings before tax margin of 33 per cent.Mr Gilchrist said the average F45 member visited a studio 2.65 times per week indicating they were "incredibly loyal and extremely engaged".Franchisees were required to make an initial investment of $US315,000 fee and "modest franchise fees" of $US2500 a month, which he said enabled studios on average to break-even within six months.However, the returns for franchisees in the future may not be so lucrative, with Mr Gilchrist outlining plans for further growth that include moving to a revenue-based franchise fee model.Mr Gilchrist said F45 also planned to expand its membership through a juniors 'prodigy' program and seniors 'masters' program and develop ancillary products, including meals, supplements, clothing and heart rate monitors.Crescent raised $US250 million in an initial public offering in March 2019, which it will invest in the deal along with another $US50 million. They want to spend more time in Australia and Los Angeles as the gym chain expands further into the US, no doubt aided by the pulling power of Wahlberg’s minority stake.The low-key co-chief executive and co-founder of F45, not to be confused with the Test cricketer, is no stranger to Wategos Beach.His grandfather, Eric Gilchrist, once owned one of the first Marine Parade subdivisions about 50 years ago, and Gilchrist and his wife were married across the road at the exclusive boutique retreat Rae’s on Wategos.The six-bedroom residence on two titles totalling about 1500 square metres has long been considered one of the best houses on Wategos Beach.Salmat co-founder Peter Mattick and his wife Pam hoped to top the Byron Bay record early last year when they listed their trophy home at the other end of Marine Parade, However, the architect Timothy Moon-designed residence is now being offered for $14 million to $15 million through LJ Hooker’s Liam Annesley.The F45 franchise is headed up by Deutsche, who last December settled on Bronte’s highest house sale of last year for $11.2 million for a three-storey contemporary house opposite the beach sold by Alexander Phillips, of Phillips Pantzer Donnelley.F45 gym boss Adam Gilchrist buys Byron Bay trophy home for $18.8mWategos House has sold in an off-market deal for $18.85 million.

F45 co-founder Adam Gilchrist has smashed the Freshwater record by more than double, snapping up his neighbour’s home after they objected to development plans. Its backer, Crescent Capital, is a private lender and asset manager with more than $US28 billion under management.Crescent Acquisition's executive chairman Robert Beyer said the amount paid was less than half the expected price of F45's previously planned IPO.Mr Gilchrist's co-founders have both left the business with Mr Istomin departing several years ago after "creative differences" and Mr DeutschMr Beyer said most of the proceeds of the deal were being used to redeem Mr Deutsch's shares alongside those of a few other shareholders leaving more than $US60 million of cash remaining on F45's balance sheet. Adam Gilchrist: Co-Founder, Chief Executive Officer and Board Member: Christopher Payne: Chief Financial Officer: Heather Christie: Chief Operating Officer : Luke Armstrong: Chief Revenue Officer: Elliot Capner: Chief Commercial Officer: You’re viewing 5 of 9 executive team members. Gilchrist's plan to use the property as a holiday home since they will be spending more time in Los AngelesA large open plan kitchen boasts a marble counter with classic wooden panels. We are no longer accepting comments on this article.Part of the Daily Mail, The Mail on Sunday & Metro Media Group'Australia's Neverland': Vile paedophile teacher used a farm...'I'm going to go with Mark Wahlberg': Tom Brady suggests the...PIERS MORGAN: If Mark Wahlberg’s insane daily regime is what...Get ready to renovate! Adam Gilchrist, not to be confused with the former Australia national cricketer, is an entrepreneur with 20 years experience in franchising, marketing and product development. More specifically, records show a contemporary three-level residence – one of only 13 fronting the northern end of the beach – he bought for $11.2 million a year ago, complete with glass-fronted living areas, two studies, games and rumpus room, outdoor kitchen and spa.Deutsch’s more than $22 million worth of eastern suburbs real estate is just a fraction of what his F45 partner Gilchrist has parlayed into property.Gilchrist owns no property in his name, but acquisitions in his wife’s name and in a company name solely owned and directed by him total more than $45 million in the pastThat figure doesn’t include a two-bedroom apartment bought by his wife in 2013 for $710,000.In late 2017, he bought a Californian bungalow at Freshwater overlooking the beach for $5.4 million sight unseen and $1.3 million over the reserve.He made headlines in August when he bought the three-level house next door – which he billed a “demolition site” at the time – for a suburb high of Gilchrist’s Freshwater purchase wasn’t the first time he had smashed the record books.