Job search
Job Search
Latest news
More news: (showing 1 - 20 of 13727)           
UK only International

Brunswick sells Life Fitness to KPS Capital Partners for US$490m

By Tom Walker    07 May 2019
The Life Fitness portfolio includes five equipment brands
We will work closely with KPS to develop and execute a focused strategic plan
– Jason Worthy

Manufacturing conglomerate Brunswick Corporation is selling its entire fitness business to private equity firm KPS Capital Partners.

KPS – an investment firm which focuses on manufacturing and industrial companies across a number of industries – will acquire the entire Life Fitness estate, which includes five brands: Life Fitness, Hammer Strength, Cybex, Indoor Cycling Group, SCIFIT and Brunswick Billiards.

Under the agreement, approved by Brunswick's board of directors, KPS will pay US$490m (€437m, £374m) in cash to acquire the business and its brands.

The transaction is expected to close during the second quarter of 2019, following receipt of regulatory approvals.

The move comes just months after Brunswick announced plans to spin off its fitness business and to run the wellness brands under an independent, standalone, publicly traded company called FitnessCo. At the time, the company said the move would allow the new company to "better address evolving commercial fitness marketplace trends".

Commenting on the sale, Jason Worthy, president, Life Fitness, said: "We're excited about this incredible opportunity to collaborate with a firm with a tremendous track-record of working with similar companies.

"KPS recognises our world-class brand positioning, the value of our customer relationships, our iconic standing within the fitness industry, and our long-term earning potential.

"We will work closely with KPS to develop and execute a focused strategic plan centred around our mission to inspire healthier lives.

"We will build upon our long and successful history of product development and technology leadership, with the goal of providing the highest-quality solutions and services for a broad range of fitness facilities and fitness consumers."

The move is seen as a way for Brunswick to concentrate in the marine equipment business.

KPS' investments in leisure include TaylorMade Golf and North American Breweries.

Life Fitness' product line includes the SYNRGY360 concept
Brunswick  KPS Capital Partners  Life Fitness  Hammer Strength  Cybex  Indoor Cycling Group  SCIFIT  Brunswick Billiards 
Sign up for FREE ezines
Related news
Related features

Company profile

Company profile: ABC Trainerize
ABC Trainerize is a member engagement mobile app and software platform that allows coaches and fitness businesses to expand their reach beyond their physical space, better connect with members, and digitize the training experience.
View full profile >
More company profiles

Featured Supplier

Panatta to showcase innovation at major fitness and bodybuilding events in 2024
Panatta will consolidate its global presence throughout 2024 by attending a host of major industry events around the globe.
View full details >
More featured suppliers

Property & Tenders

Location: Loughton, IG10
Company: Knight Frank
Location: Grantham, Leicestershire
Company: Belvoir Castle
Location: Verwood, Dorset
Company: AVISON YOUNG
Location: Hall Place House, Bexley, DA5 1PQ
Company: London Borough of Bexley
Location: 15 Concessions across the nation's forests
Company: Forestry England
More properties & tenders

Diary dates

11-14 Apr 2024
Exhibition Centre , Cologne, Germany
22-24 Apr 2024
Galgorm Resort, York
10-12 May 2024
China Import & Export Fair Complex, Guangzhou, China
23-24 May 2024
Large Hall of the Chamber of Commerce (Erbprinzenpalais), Wiesbaden, Germany
More diary dates