ROSEMONT, IL--(Marketwired - July 28, 2016) - Life Fitness, the global leader in commercial fitness equipment, today announced that its parent company, Brunswick Corporation (NYSE: BC), has signed an agreement to acquire Germany's Indoor Cycling Group (ICG), a leading provider of indoor cycling equipment. Terms of the transaction were not disclosed. The transaction is subject to customary closing conditions and regulatory review and approval by the German competition authority. The approval is anticipated during the third quarter.
Upon completion of the transaction, ICG will become the latest acquisition to join the Company's leading health, fitness and well-being brand portfolio. The addition of ICG will further diversify the Life Fitness product offering, and further augment the company's diverse group exercise category.
"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," said Life Fitness President Chris Clawson.
"As the supplier of Life Fitness' existing group cycling bike, we have had a strong relationship with ICG for the past five years. Through this relationship 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," Clawson added.
Founded in 1995, ICG is headquartered in Nuremberg, Germany, and is the leading supplier of indoor cycling bikes through both direct and distributor channels. With a full line of bikes known for their aesthetics, design and integrated technologies, ICG is singularly focused on the indoor cycling business, making its products, technology and on-staff experts unmatched in the industry.
"We're thrilled to join the Life Fitness family and lead the effort to grow the business' cycling and group exercise offering," said Bernd Puerschel, ICG's founder and chief executive officer. Puerschel will remain in his position after the acquisition is completed and report to Clawson. "The Life Fitness family will be a great, natural fit for our team and we're eager to keep our efforts focused on further evolving our products and technologies which, when grouped with Life Fitness' existing products, will create an unparalleled group exercise portfolio."
The ICG product line will benefit from Life Fitness' expansive global distribution network, serving over 120 countries. "ICG is highly regarded in our industry," said Clawson. "We're eager to join it with our existing group exercise products such as Life Fitness SYNRGY360, Row GX Trainer and the Hammer Strength rigs and racks to provide a robust product portfolio for our global customers."
For more information about Life Fitness and its family of brands, visit www.lifefitness.com. For more information about ICG, visit www.teamicg.com.
About Life Fitness
Life Fitness is the global leader in commercial fitness equipment and game tables and furnishings. The company manufactures and sells its strength and cardiovascular equipment, productive well-being equipment, billiards tables and accessories, and game room furniture under the brand names Life Fitness, Hammer Strength, Cybex, SCIFIT, InMovement and Brunswick Billiards. Its equipment is distributed to more than 120 countries. Headquartered outside Chicago, in Rosemont, Ill., Life Fitness is a division of Brunswick Corporation (NYSE: BC).
Headquartered in Lake Forest, Ill., Brunswick Corporation's leading consumer brands include Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard engines; MotorGuide trolling motors; Attwood, Garelick and Whale marine parts and accessories; Land 'N' Sea, Kellogg Marine, Diversified Marine, BLA and Bell RPG parts and accessories distributors; Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris, Lowe, Lund, Meridian, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet and Uttern; Life Fitness, Hammer Strength, Cybex and SCIFIT fitness equipment; InMovement products and services for productive well-being; and Brunswick billiards tables, accessories and game room furniture. For more information, visit http://www.brunswick.com.