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Life Fitness adds Indoor Cycling Group to brand portfolio

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US-based Brunswick Corporation – the parent company of fitness equipment supplier Life Fitness – has acquired Germany-based Indoor cycling Group (ICG) for an undisclosed sum.

The deal will see ICG, a specialised provider of indoor cycling equipment, being added to Life Fitness’ burgeoning portfolio of wellbeing and fitness brands.

According to Life Fitness President Chris Clawson, the addition of ICG is a strategic move to “diversify and augment” the company’s existing group exercise offering.

“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,” Clawson said.

“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.”

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.

The news of the deal has been received with a trace of surprise in some quarters of the fitness sector, as ICG had an existing working relationship with another equipment supplier, Matrix.

ICG had, for example, added the "Matrix Powered By ICG" mark to its Tomahawk indoor cycles, explaining the move in its marketing materials as to “clearly express the powerful unification between ICG and Matrix Fitness in key international markets”.

The deal is the latest in a line of high-profile acquisitions for Life Fitness’ owner 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 aging market, to the Life Fitness portfolio.

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US-based Brunswick Corporation – the parent company of fitness equipment supplier Life Fitness – has acquired Germany-based Indoor Cycling Group (ICG) for an undisclosed sum.
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