Life Fitness acquires German indoor cycling company

ROSEMONT - Life Fitness parent company Brunswick Corp., said it will acquire Germany's Indoor Cycling Group, a provider of indoor cycling equipment.

Terms of the transaction were not disclosed.

ICG will become the latest acquisition to join the company's health, fitness and well-being brand portfolio. The addition of ICG will further diversify the Life Fitness product offering, and further augment the company's diverse group

exercise category.

"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."

Founded in 1995, ICG is headquartered in Nuremberg, Germany, and is a key supplier of indoor cycling bikes through both direct and distributor channels. With a full line of bikes known for their aesthetics, design and integrated technologies, ICG is singularly focused on the indoor cycling business, making its products, technology and on-staff experts unmatched in the industry.

"The Life Fitness family will be a great, natural fit for our team and we're eager to keep our efforts focused on further evolving our products and technologies which, when grouped with Life Fitness' existing products, will create an unparalleled group exercise portfolio.''said Bernd Puerschel, ICG's founder and chief executive officer.

Puerschel will remain in his position after the acquisition is completed and report to Clawson.

The acquisition is expected to be completed during the third quarter.