Nautilus Inc. To Sell Commercial Fitness Equipment Business
Fitness company Nautilus, Inc. (NYSE:NLS) is actively seeking buyers for substantially all of the assets, liabilities and ongoing operations of its commercial business. This is a further step in the Company’s restructuring plan of improving its cost structure and focusing on the consumer market through its direct and retail businesses.
Assets of the Company’s commercial business include a manufacturing facility and three warehouses in Virginia; the StairMaster cardio brand and related stepper and StepMill lines; the commercial indoor cycling line including the newly launched Authentic Cycling bikes with true power measurements; and commercial strength and cardio equipment including the Nautilus ONE strength line.
Edward Bramson, Chairman and Chief Executive Officer of Nautilus, Inc. has stated that “While recent results in our commercial business did not meet expectations, we continue to believe that Nautilus Commercial has many attractive and under exploited assets in the commercial fitness equipment market. As examples, our Schwinn commercial stationary bike line is the innovation leader in the industry, our Nautilus Strength brand has a number of popular lines including the Nautilus One(TM) Strength Equipment, and Stairmaster products are the industry standard in the stepper and stepmill categories.”
The Company has engaged Robert W. Baird & Co. to actively assist in the sale of the commercial business. FBC has requested further information from Nautilus that will be of interest to current owners of Nautilus equipment and will report on the new sources for these well known equipment lines as soon as this information becomes available.
Popularity: 10% [?]
