Brunswick buys Cybex for $195M to make Life Fitness stronger
Lake Forest-based Brunswick Corp., known for boats and pool tables, is strengthening its fitness division with a $195 million acquisition.
Brunswick Corp. bought Cybex International Inc., a maker of commercial fitness equipment, for $195 million.
Cybex will join Brunswick's Life Fitness division's growing portfolio.
Founded in 1970, Cybex offers a full line of cardiovascular and strength products largely serving the commercial fitness market. Its cardio portfolio includes treadmills and exercise bikes, plus the Cybex Arc Trainer, a popular cross-trainer. Cybex's strength category includes free weight equipment. Cybex's 2015 sales were estimated at about $169 million.
"With the addition of Cybex, we will expand our stable of brands serving the complete spectrum of the commercial fitness market, including health clubs, hospitality, education and military, as well as consumers, with a wide array of equipment and features that include a complete suite of services and support," said Brunswick President Mark Schwabero. "We believe the combination of these premium brands and industry leaders will be well positioned to serve the global fitness market."
Life Fitness, based in Rosemont, is one of the oldest designers and manufacturers of cardio fitness equipment, including treadmills, ellipticals and Hammer Strength brand training equipment.
Chris Clawson is the president of Life Fitness, which moved its global headquarters about two years ago from Schiller Park to a larger space in Rosemont. This year marked its 2 millionth piece of cardio equipment built at its Franklin Park facility.
In July, Life Fitness acquired the SciFit Systems Inc., which provides products and equipment for those who are actively aging or need medical-related or rehab fitness.
Schwabero noted that the Cybex acquisition is consistent with Brunswick's plan to double revenue of its Life Fitness division by 2020. These recently completed acquisitions complement a relentless focus on new products and services within Life Fitness' core cardio and strength equipment businesses.