ICON Health & Fitness Announces $200 Million Growth Investment Led By L Catterton
Summary
LOGAN, Utah--(BUSINESS WIRE)--ICON Health & Fitness (“ICON”), the world leader in innovation, design and distribution of connected fitness equipment and software, today announced a $200 million growth investment led by L Catterton, the largest and most global consumer-focused private equity firm, and is joined by existing investor Pamplona Capital Management. The investment will further accelerate ICON’s unique growth strategy of delivering its expansive range of interactive fitness products connected by iFit, the company’s patented content technology and media platform. With approximately 700,000 paid subscribers — and rapidly growing — iFit is enjoyed in the home, at the gym and on-the-go across ICON’s diverse range of products and partnerships. “We have long admired ICON as a pioneering health and fitness giant, with a core focus on technology, longstanding track record of innovation, and a proven, profitable growth model. As people around the world increasingly seek out new, immersive ways to exercise and stay healthy, ICON’s heritage, offerings, and scale are true differentiators.