LOGAN, Utah–(Small business WIRE)–ICON Overall health & Physical fitness (“ICON”), the earth leader in innovation, structure and distribution of linked conditioning machines and software package, right now declared a $200 million progress financial commitment led by L Catterton, the most significant and most global consumer-focused non-public equity organization, and is joined by present investor Pamplona Money Administration.
ICON owns recognized field-foremost fitness brands NordicTrack®, ProForm® and Freemotion®, which supply connected fitness membership expert services run by iFit, the immersive reside and on-demand from customers streaming exercise and wellness media platform.
With revenue exceeding $1 billion in the last 12 months (ending September 30, 2020), ICON is the only business which creates related fitness ordeals throughout a number of brands, multiple product or service groups and all buyer health segments.
The investment will even more speed up ICON’s distinctive progress technique of providing its expansive range of interactive conditioning solutions connected by iFit, the company’s patented articles technology and media system. With around 700,000 compensated subscribers — and promptly increasing — iFit is liked in the dwelling, at the health and fitness center and on-the-go across ICON’s numerous variety of products and partnerships.
Scott Watterson, Founder, Chairman and CEO of ICON claimed:
“Health and physical fitness have never ever been far more critical to shoppers globally, and we are observing explosive growth across our membership program and physical fitness devices businesses. We noticed this fast-developing desire heading into 2020, and this has accelerated sharply as people’s desire to stay healthy has intensified.
“We welcome L Catterton onboard at this extremely exciting time in our firm’s record. L Catterton has an extraordinary background of achievements investing in shopper and health organizations. I glimpse forward to operating together with Scott Dahnke and his crew as we proceed to accelerate growth throughout our many platforms and distribution channels.
“ICON reaches the fitness industry’s biggest complete addressable industry in North The us, Europe and all over the world. The large and expanding worldwide health and exercise marketplace provides a strong system for continued progress.
“This funding will even more fortify our major place in connected exercise and supply on our mission to assist buyers of each individual demographic and health stage go after and reach their overall health and fitness goals.”
Scott Dahnke, International Co-CEO of L Catterton explained:
“Over our 31-calendar year background, L Catterton has experienced extensive practical experience partnering with major fitness concepts and conducted proprietary investigate to understand what the shopper desires.
“We have lengthy admired ICON as a pioneering wellness and conditioning large, with a core target on technologies, longstanding track file of innovation, and a demonstrated, successful advancement design. As people today around the planet increasingly search for out new, immersive techniques to work out and stay healthful, ICON’s heritage, offerings, and scale are legitimate differentiators.
“The company’s wide assortment of goods throughout selling price factors has democratized health, creating it extra accessible to all people, everywhere. Their established and iconic brand names this sort of as NordicTrack and now significantly iFit, with its major subscriber expansion, set ICON apart. We are fired up to associate with Scott and his excellent administration team in this future period of their remarkable expansion journey.”
ICON Health & Fitness is a world well being and health and fitness chief and operator of iFit, NordicTrack, ProForm, Freemotion and other physical fitness manufacturers. Based mostly in Logan, Utah, the 43-year old business has a multi-ten years heritage of innovation, quality and profitability. ICON and iFit now hold additional than 330 know-how patents, with 80 pending, and its products are current in 116 international locations. iFit workouts are streamed in English, Spanish, French and Mandarin Chinese, with additional languages prepared for 2021.
About L Catterton
With somewhere around $20 billion of fairness funds throughout 7 fund procedures in 17 offices globally, L Catterton is the greatest consumer-targeted private fairness agency in the planet. L Catterton’s staff of almost 200 expenditure and running pros companions with management groups close to the earth to apply strategic designs to foster expansion, leveraging deep classification insight, operational excellence, and a broad partnership network. Since 1989, the agency has created more than 200 investments in top shopper manufacturers. L Catterton was formed by means of the partnership of Catterton, LVMH, and Groupe Arnault. For much more facts about L Catterton, you should take a look at www.lcatterton.com.