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Life Fitness takes over Indoor Cycling Group
US-based Brunswick Corporation, the parent company of global fitness equipment supplier Life Fitness, has acquired Germany-based Indoor Cycling Group (ICG) for an undisclosed sum.
The deal will see ICG’s specialised indoor cycling equipment range added to Life Fitness’ growing portfolio of wellbeing and fitness brands.
According to Life Fitness President Chris Clawson, the addition of ICG is a strategic move to “diversify and augment” the company’s existing group exercise offering.
Clawson explained “with ICG’s innovative technology, expertise in cycling and talented team, we will be well-positioned to advance in the indoor cycling and group exercise categories.
“We know that ICG’s culture of innovation and customer-focused approach are a great fit for our team. We look forward to having the ICG group join the Life Fitness family.”
Founded in 1995, ICG is headquartered in Nuremberg, Germany, and is singularly focused on the indoor cycling business.
The company’s founder and Chief Executive Bernd Pürschel will remain in his position and will report directly to Clawson.
The new ownership will presumably end ICG’s previous working relationship with another equipment supplier, Matrix.
ICG had, for example, added the ‘Matrix Powered By ICG’ mark to its Tomahawk indoor cycles, explaining the move in its marketing materials as to “clearly express the powerful unification between ICG and Matrix Fitness in key international markets”.
The deal is the latest in a line of high-profile acquisitions for Life Fitness’ owner Brunswick having acquired fitness supplier Cybex International for US$195 million in January this year and Scifit, which specialises in the active aging market, to its portfolio in the middle of last year.
28th March 2016 - LEISURE CONCEPTS CONTINUES AS CYBEX DISTRIBUTOR IN AUSTRALIA
22nd January 2016 - LIFE FITNESS ACQUIRES RIVAL CYBEX INTERNATIONAL
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