Rome - The Italian fitness equipment manufacturer Technogym is considering an IPO in Milan.
On Monday, company founder Nerio Alessandri described a stock market listing as a "natural development" following the growth and structuring phase of his company.
A feasibility study has been commissioned to explore the options for an IPO. Alessandri ruled out the entry of a partner to promote Technogym's international growth. "We haven't had any positive experiences in this direction so far," said Alessandri.
Technogym is one of the largest fitness equipment manufacturers in the world, together with the US groups Lifetime and Precor. The Cesena-based company has 2,200 employees in 14 branches worldwide and reports a turnover of around 470 million euros. Exports account for 90 percent of turnover. Technogym has recently experienced strong growth in the USA, Japan, France and Spain, among other countries.
Technogym distributes its fitness equipment in Austria via Fitness Company, which is based in Leonding. Fitness Company claims to be the market leader with a market share of 60 to 70 percent. You can also find new and used fitness equipment from Technogym at fitnessmarkt.de!
Source: APA
Published on: 24 February 2016