Life Fitness owner buys Cybex for US$195m
by Jak Phillips | 21 Jan 2016
Brunswick president and COO Mark Schwabero said the acquisition is consistent with plans to double revenue of its Life Fitness Division by 2020
Brunswick Corporation has announced that it has acquired fitness supplier Cybex International for US$195m (€179m, £138m), with Cybex to join its Life Fitness Division portfolio of brands.
The deal, which is subject to a working capital adjustment, sees the full line of Cybex cardiovascular and strength products join the Life Fitness stable. Brunswick president and COO Mark Schwabero said the acquisition would strengthen its stable of brands serving the commercial fitness market, enabling economies of scale, stronger presence in fast-growing segments and a wider international reach.
“The Life Fitness – Cybex combination enables us to approach the market with a broader and deeper product portfolio, and improve our ability to address the faster growing segments of the fitness market,” said Schwabero.
“With the addition of Cybex’s manufacturing footprint, we can meet current and future demand and achieve manufacturing cost reduction objectives more effectively and efficiently. This combination provides cost synergies and scale as well as manufacturing and engineering capabilities to further improve our competitiveness and leadership position within the fitness industry."
Schwabero added that the acquisition is consistent with Brunswick’s plan to double revenue of its Life Fitness Division by 2020.
The deal adds to the flurry of activity in the fitness supplier market in recent months as companies seek mergers to enhance profitability and consolidate market presence. Life Fitness recently expanded its reach in the active ageing fitness market through the acquisition of specialist equipment supplier SCIFIT, while Precor upped the ante on its functional fitness ambitions by buying Queenax and Nautilus acquired Octane Fitness earlier this month.
Life Fitness Cybex Brunswick acquisition
Brunswick Corporation has announced that it has acquired fitness supplier Cybex International for US$195m (€179m, £138m), with Cybex to join its Life Fitness Division portfolio of brands. The deal, which is subject to a working capital adjustment, sees the full line of Cybex cardiovascular and strength products join the Life Fitness stable. Brunswick president and COO Mark Schwabero said the acquisition would strengthen its stable of brands serving the commercial
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