Life Fitness parent the Burnswick Corporation has revealed that it has signed an agreement to acquire Germany’s Indoor Cycling Group.
Terms of the transaction have not been disclosed and the deal is subject to regulatory review by Germany’s competition authority, though approval is expected in the third quarter.
“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.
The Indoor Cycling Group will now benefit from a global distribution network, currently hitting 120 countries.
Sticking with indoor fitness, the IMAX cinema group now has an interactive cycling experience class.