ROSEMONT, Ill., May 6, 2019 /PRNewswire/ — Life Fitness, the global leader in commercial fitness equipment, announced today that its parent company, Brunswick Corporation (NYSE: BC), has entered into a definitive agreement with KPS Capital Partners, LP (“KPS”) under which KPS will acquire Brunswick’s Fitness business and related brands, including Life Fitness. KPS is a leading investment firm focused on manufacturing and industrial companies across a diverse array of industries.
Under the agreement, which was approved by Brunswick’s Board of Directors, KPS will pay approximately $490 million in cash to acquire the Fitness business and its brands. The transaction is expected to close during the second quarter of 2019, following receipt of regulatory approvals.
About Life Fitness
Life Fitness is the global leader in commercial fitness equipment and game tables and furnishings. The company manufactures and sells its strength and cardiovascular equipment, billiards tables and accessories, and game room furniture under the brand names Life Fitness, Hammer Strength, Cybex, Indoor Cycling Group, SCIFIT and Brunswick Billiards. Its equipment is distributed to 166 countries. Headquartered outside Chicago, in Rosemont, Illinois, Life Fitness is a division of Brunswick Corporation (NYSE: BC). For more information about Life Fitness products and services, visit www.lifefitness.com.
Headquartered in Mettawa, Ill., Brunswick Corporation’s leading consumer brands include Mercury Marine outboard engines; Mercury MerCruiser sterndrive and inboard packages; Mercury global parts and accessories including propellers and SmartCraft electronics; Power Products Integrated Solutions; MotorGuide trolling motors; Attwood, Garelick, and Whale marine parts; Land ‘N’ Sea, BLA, Payne’s Marine, Kellogg Marine, and Lankhorst Taselaar marine parts distribution; Mercury and Quicksilver parts and oils; Bayliner, Boston Whaler, Crestliner, Cypress Cay, Harris, Lowe, Lund, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet and Uttern boats; Boating Services Network, NAUTIC-ON, OnBoard Boating Club and Rentals; Life Fitness, Hammer Strength, Cybex, Indoor Cycling Group, and SCIFIT fitness equipment; and Brunswick billiards tables, accessories, and game room furniture. For more information, visit https://www.brunswick.com.
About KPS Capital Partners, LP
KPS is the manager of the KPS Special Situations Funds, a family of investment funds with over $5.1 billion of assets under management (as of December 31, 2018). For over two decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing. KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than primarily relying on financial leverage. The KPS Funds’ portfolio companies currently have aggregate annual revenues of approximately $5.8 billion, operate 99 manufacturing facilities in 27 countries, and have nearly 21,000 employees, directly and through joint ventures worldwide. The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.