LOGAN, Utah–(Business enterprise WIRE)–ICON Health and fitness & Health and fitness (“ICON”), the globe chief in innovation, layout and distribution of linked conditioning products and software program, today declared a $200 million growth expense led by L Catterton, the biggest and most world purchaser-centered private fairness company, and is joined by current investor Pamplona Money Administration.
ICON owns founded field-major fitness models NordicTrack®, ProForm® and Freemotion®, which offer you connected exercise membership expert services driven by iFit, the immersive stay and on-demand from customers streaming health and wellness media platform.
With income exceeding $1 billion in the final 12 months (ending September 30, 2020), ICON is the only enterprise which results in connected conditioning experiences throughout multiple models, many solution categories and all purchaser health segments.
The financial investment will even more speed up ICON’s special advancement method of providing its expansive assortment of interactive health and fitness merchandise related by iFit, the company’s patented information technologies and media platform. With about 700,000 compensated subscribers — and fast growing — iFit is savored in the residence, at the gymnasium and on-the-go across ICON’s various array of goods and partnerships.
Scott Watterson, Founder, Chairman and CEO of ICON stated:
“Health and fitness and health have under no circumstances been much more vital to shoppers globally, and we are looking at explosive advancement throughout our subscription program and conditioning tools companies. We noticed this quick-increasing demand from customers going into 2020, and this has accelerated sharply as people’s need to keep balanced has intensified.
“We welcome L Catterton onboard at this amazingly fascinating time in our firm’s heritage. L Catterton has an extraordinary history of accomplishment investing in client and health enterprises. I look forward to working along with Scott Dahnke and his team as we carry on to speed up expansion throughout our many platforms and distribution channels.
“ICON reaches the health industry’s greatest total addressable marketplace in North The us, Europe and about the entire world. The broad and increasing worldwide overall health and health and fitness sector presents a impressive system for continued advancement.
“This funding will more reinforce our major place in connected exercise and produce on our mission to enable customers of just about every demographic and conditioning degree pursue and accomplish their wellbeing and conditioning aims.”
Scott Dahnke, World wide Co-CEO of L Catterton stated:
“In excess of our 31-12 months record, L Catterton has experienced comprehensive encounter partnering with leading health ideas and carried out proprietary analysis to understand what the purchaser needs.
“We have very long admired ICON as a pioneering wellness and physical fitness big, with a core aim on technological know-how, longstanding monitor record of innovation, and a verified, rewarding advancement model. As people all-around the globe ever more find out new, immersive means to exercise and remain wholesome, ICON’s heritage, offerings, and scale are accurate differentiators.
“The company’s broad range of products and solutions throughout value points has democratized exercise, building it much more accessible to every person, everywhere you go. Their founded and iconic makes this kind of as NordicTrack and now significantly iFit, with its significant subscriber development, set ICON aside. We are psyched to associate with Scott and his remarkable management workforce in this upcoming period of their exciting development journey.”
ICON Health and fitness & Exercise is a worldwide wellbeing and health and fitness chief and proprietor of iFit, NordicTrack, ProForm, Freemotion and other health makes. Based in Logan, Utah, the 43-calendar year previous business has a multi-decade heritage of innovation, quality and profitability. ICON and iFit at the moment maintain much more than 330 technological know-how patents, with 80 pending, and its items are present in 116 international locations. iFit exercise routines are streamed in English, Spanish, French and Mandarin Chinese, with more languages planned for 2021.
About L Catterton
With somewhere around $20 billion of equity money throughout 7 fund tactics in 17 offices globally, L Catterton is the largest shopper-concentrated private fairness organization in the world. L Catterton’s crew of just about 200 expense and operating specialists partners with management groups all around the earth to implement strategic strategies to foster progress, leveraging deep class insight, operational excellence, and a wide partnership network. Since 1989, the organization has made above 200 investments in main buyer brand names. L Catterton was shaped as a result of the partnership of Catterton, LVMH, and Groupe Arnault. For much more facts about L Catterton, be sure to check out www.lcatterton.com.