DLA Piper advises Fitstop on investment by Lift Brands

Global law firm DLA Piper has advised Fitstop, one of Australia’s leading functional training groups, on a 30% investment by Lift Brands (responsible for brands such as Snap Fitness and a minority partner in 9Round). Lift Brands has more than 2,500 clubs across 26 countries and 1.5 million members worldwide. The Fitstop franchise model was launched in 2017 by founder Peter Hull, and is poised to open its 50th location within the next month.

The investment by Lift Brands not only provides Fitstop the opportunity to accelerate the expansion of its business internationally but delivers a strategic partnership for both Fitstop and Lift Brands, with the latter gaining exposure to the functional fitness market through its investment. 

The DLA Piper team was led by Corporate partner Lyndon Masters, and included senior associate Elizabeth Campbell and solicitor Julie Humphreys. 

Lyndon Masters said “Fitstop has been growing rapidly in the last 12 months, from 3,500 to 11,000 members since early last year, and we are excited to see Fitstop take this next step in its business, to expand internationally.”

“This is a huge milestone for both brands and really puts us on the fitness map,” Hull said.

DLA Piper has been involved in a significant number of transactions involving investments in fast growth companies in 2021 including Odyssey Private Equity’s investment in MTB Direct and The Crosby Group’s investment in Verton Technologies.