Xponential Fitness Debuts On The NYSE As Boutique Fitness Clubs Plan Their Comeback

Xponential Fitness Debuts On The NYSE As Boutique Fitness Clubs Plan Their Comeback

Xponential Fitness' IPO follows the public offering last week of Mark Wahlberg-backed franchise studio operator F45 Training. Shares of Xponential Fitness, the Irvine, California-based franchise owner of fitness brands like Club Pilates and CycleBar, debuted on the New York Stock Exchange on Friday at $12, downsizing its IPO price of $14 to $16 a share. Xponential intends to raise a total of $120 million from the IPO. Xponential is the largest boutique fitness franchisor in the U. S. with more than 1, 750 studios. The company served more than 850, 000 customers in 2020 via in-studio and streaming workouts during the height of the pandemic. "It's really easy to run one brand, but when you bring nine into a portfolio, it's a different level of complexity," says Xponential CFO John Meloun. "Figuring out the magic formula is something that we spent a lot of time on wanting to perfect before we chose the next big chapter: going public." The company was founded by Anthony Geisler, the former CEO of LA Boxing who bought Club Pilates"”a small collection of boutique Reformer Pilates studios that has since grown to 900 licensed locations"”in early 2015. Recognizing the potential of boutique fitness clubs, Geisler