Derrimut 24:7 enters an exciting new era under new ownership, confirming stability, investment, and a renewed focus on quality

FOR IMMEDIATE RELEASE

14 January 2026

Melbourne, Australia – Derrimut 24:7 is exiting administration with Cameron Pascoe, Hass Fahd and Wes Maas taking full ownership of the gym chain having committed to invest over $80 million, the Company announced today.

The business, which entered voluntary administration in November last year, will operate as an independent brand alongside the Cavalo Prestige group. The Administrator recommended and creditors voted in favour of the restructure, allowing the Company to retain its brand identity and continue operations.

"We're bringing stronger financial governance, improved systems, and meaningful investment back to the gyms," said Wes Maas, Owner. "We'll be delivering on the original promise of Derrimut 24:7 – accessible, world-class fitness facilities.”

“This is an exciting time for us, and we can’t wait to continue to grow and enhance the brand that members have come to know and love.”

The new ownership group has committed to facility upgrades across the chain, and to make significant ongoing investments to elevate quality, expand services, and ensure consistency across the network. The investment plans for 3 new locations, Elizabeth and Mawson Lakes SA, and Dandenong VIC, have been approved and preparation for the opening of these facilities is well advanced.

Maas said “We’re also investing heavily in our team with better training, clearer processes, and a culture we can all be proud of.”

“Derrimut has always been about giving everyday Australians access to world-class fitness, and we’re committed to delivering on that promise long-term with some exciting plans in the works.”

Membership pricing will be simplified, upfront memberships have been dropped, and there are no lock-in contracts. From 1 March 2026, weekly Core memberships will be $12.95* and Premium memberships inclusive of Group fitness classes will be $16.95*.

“We believe this represents strong value for members, particularly given the scale of investment underway across facilities, equipment and long-term improvements.” said Maas.

ENDS.