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Life Fitness completes Indoor Cycling Group deal
By Tom Walker
ICG is singularly focused on the indoor cycling business.
Life Fitness' acquisition of the Indoor Cycling Group (ICG) for an undisclosed sum has been given the green light by the German competition authority.
In July, it was revealed that the fitness equipment supplier's parent company, Brunswick Corporation, had purchased the Germany-based group, and now the Bundeskartellamt – the competition authority – has rubber stamped the move.
ICG, a specialised provider of indoor cycling equipment, will be added to Life Fitness’ burgeoning portfolio of wellbeing and fitness brands. The acquisition is seen as a strategic move to diversify Life Fitness’ existing group exercise offering and the deal is the latest in a line of high-profile acquisitions for Brunswick.
Earlier this year, it acquired fitness supplier Cybex International for US$195m (€179m, £138m).
In July 2015, Brunswick added Scifit, which specialises in the active ageing market, to the Life Fitness portfolio.
Life Fitness president Chris Clawson said: “ICG's innovative technology, indoor cycling expertise and talented team position us to advance in the indoor cycling and group training categories.”
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 officer, Bernd Pürschel, will remain in his position and will report directly to Clawson.
Life Fitness' acquisition of the Indoor Cycling Group (ICG) for an undisclosed sum has been given the
green light by the German competition authority.
HAF
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