“As a public company, I am confident that we will be able to accelerate … 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. F45 franchises are sold for $50,000 each. 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. "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. The boss of fast-growing gym franchise F45 Adam Gilchrist has splashed out on a Byron Bay trophy home for $18.85 million, just weeks after Hollywood heavyweight Mark Wahlberg bought into the company.The off-market purchase has smashed the luxury holiday spot’s long-standing record high set in 2006 by the same property when it last traded for a bullish $15.68 million.The Wategos Beach property was sold by Danny Goldberg, the Vaucluse-based contemporary art collector and executive chairman of private equity firm Dakota Capital.Known as Wategos House, the colonial-style property was exchanged on a quick three-day settlement with no mortgage on title.When approached about the purchase, Gilchrist said it was set to be a holiday home for his family. The companies were formed over a two year period with the most recent being incorporated two years ago in July of 2018. 'Basically unliveable' terrace in a...Wildcat 'size of medium dog' spotted strolling through Cambridge'Inmates' heard screaming from inside Minsk 'torture house'Brazen thieves steal catalytic converter from car in 20 secondsSweat pours out from healthcare worker's hazmat suitShocking clip shows moment fight erupts on train in LondonThe adorable cat with four-inch legs who has gone viralMan is seriously injured after being shot by armed policeOmid Scobie discusses new Harry and Meghan book 'Finding Freedom'Lindsay Birbeck's teenage killer Rocky Marciano Price with bin'Disappointed' student believes she deserves three A's in resultsCCTV captures group fleeing police in Tyseley, BirminghamVladimir Putin announces Russia approved first ever Covid vaccine Australian fitness chain F45 Training is set to list on the US Nasdaq exchange after striking a deal to merge with Crescent Acquisition, a special purpose acquisition company backed by investment firm Crescent Capital.It is slated to value the combined companies at $US845 million ($1.23 billion) including debt with a listing expected in the third quarter of the year.F45 franchises offer 45-minute fitness classes based on functional high-intensity interval and circuit training based on its motto of "no mirrors, no microphones, no egos".The fitness chain was started in Australia in 2013 by chief executive Adam Gilchrist (not the cricketer), Rob Deutsch and Luke Istomin and has grown rapidly with more than 1900 franchises sold including 500 in Australia.In a conference call with investors on Thursday, Mr Gilchrist said F45 had only "scratched the surface" of its potential and was one of the fastest-growing fitness franchises in the world with plans for 25,000 studios globally. The aqua blue waters of Wategos Beach is a firm favourite with tourists and locals. Gilchrist was also appointed to the F45 Training board o… All companies are still active. “As a public company, I am confident that we will be able to accelerate … 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. Gilchrist then founded Zippy Shell, a mobile self-storage company in the United States. "We've absolutely smashed it here in the US, and we have confidence in our ability to propel our business even further. Cape Byron Lighthouse can be seen on top of the headlandMark Wahlberg with F45 co-founder Rob Deutsch, who founded the gym with Adam Gilchrist, not to be confused with the cricketer, in 2012. 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. F45 Gyms began as a joint venture between Mr Gilchrist and Rob Deutsche, who is the face of the brand, in 2012. "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. Mr Gilchrist, and his wife Eli, paid $14 million for their neighbour’s house on less than 400sqm of land after the neighbours disputed their plans for a new property. Another swimming option is Wategos Beach right on the house's doorstep Gilchrist plans to use the trophy home as a holiday house for his family, according to They want to spend more time in Los Angeles as the Wahlberg-backed gym ventures further into the US market. Adam Gilchrist Overview Adam James Gilchrist is currently associated with two companies, according to public records.