Investment company KPS Capital Partners acquires Life Fitness family of brands
Mettawa, USA/Unterschleissheim. Brunswick Corporation is selling its fitness division to the investment company KPS Capital Partners. The latter is thus acquiring Life Fitness, the world's leading manufacturer of premium fitness equipment, and its Hammer Strength, Cybex, Indoor Cycling Group and SCIFIT brands for a price of around $490 million. The process is expected to close in the second quarter of 2019.
Brunswick will focus on its marine and watersports equipment business going forward. "With the sale of the fitness division, we are sharpening our maritime performance profile," said Brunswick CEO David Foulkes. "In this way, we intend to further expand our leading position in this industry." Brunswick made more than $4 billion in global sales there last year alone.
Brunswick board members Dave Everitt and Dave Singer have been carefully preparing the acquisition of the fitness division. According to Foulkes, there had been several interested parties with serious purchase intentions. KPS Capital Partners ultimately won the bid. "With some of the strongest brands and the best professionals in the fitness industry, this part of the company is very well positioned for the future," Foulkes says. "We thank the employees of this division for their contributions to Brunswick's success and we wish them all the best in the future."
About Brunswick
Brunswick Corporation, headquartered in Mettawa, Illinois, is the parent company of Life Fitness and the Hammer Strength, Cybex, Indoor Cycling Group and SCIFIT fitness brands. Other businesses include aquatics equipment, as well as pool tables, related accessories and game room equipment. More information is available at www.brunswick.com.
Source: www.bragulla-pr.de
Picture credits: fitnessmanagement.de
Published on: 9 May 2019