Carvalho, Inês Lopo deSilva, Maria Pinto Basto Mira da2023-08-022023-08-022023-01-132023-01-13http://hdl.handle.net/10362/156181Planet Fitness is a market leading fitness studio chain and franchisor with over 2,324 stores in the US. It provides high and recurring cash flows, making it a good LBO target. 2022 EBITDA reaches 336$M, exceeding pre-covid levels. The company offers value creation potential in internationalization through M&A, Greenfield possibilities, and further organic growth levers. Entry Multiple of 9.2x results in an EV of 3.1$B. With 5.2x Leverage an LBO yields 4.0x Money Multiple and 26% IRR.engLboInvestment committee paperGym chainPrivate equityValue creationmaster thesis203312546