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SUPPLIER NEWS


SUPPLIER NEWS


24 Hour Fitness According to The Financial Times, the own- er of 24 Hour Fitness is close to selling the business. American private equity firm Forstmann


Buyer closes in on sale of o 24 Hour Fitness


According to The Financial Times, the own- er of 24 Hour F tness is close to selling the


he buildings. business.


Little has agreed to sell the world’s largest privately held gym chain to a consortium of investors led by AEA and the Ontario Teachers Pension Plan for close to $2 billion, according to The Financial Times. Forstmann purchased the gym chain for


$1.6 billion in 2005. It tried to sell 24 Hour Fitness 18 months ago, but the deal never materialized with reports at the time sug- gesting that offers had come in below the $2 billion asking price. 24 Hour Fitness was started in 1983 by


in VAirgin a, a recent slowdown in sales tre ds equired the seasonal adjustment of staff at privately held gym cha n to a consortium of investors led by AEA and the Ontario Teachers Pension Plan for close to $2 billion, according to The Financial Times.


merican private equity firm Forstmann r Little has agreed to sell the world’s largest he manufacturing facility. At the same time, he ownership decided to put Nautilus® com- m r ial ass ts up for sale. Med-Fit Systems xpects that a synergistic partn r will be able Forstmann purchased the gym chain for


r of 24 Hour Fitne s is close to selling the ommitted to keeping its employees working American private equity firm Forstmann


In February 2010, Med-Fit Systems Inc. purchased the commercial assets of Nautilus®


Little has agr ed to sell the world’s largest t privately held gym chain to a consortium t of investors led by AEA and the Ontario Teachers Pension Plan for close to $2 billion, e according to The Financial Times.


to take the company to the next level with the


Forstmann purchased the gym chain for appropriate capitalization needed to excel in the highly competitive global marketplace.


Mark Mastrov. The business now has about 3 million members, 420 clubs in 18 U.S. states and 15 clubs in three Asian countries.


$1.6 billion in 2005. It tried to sell 24 Hour Fitness 18 months ago, but the deal never materialized with reports at the time sug- gesting that offers had come in below the $2 billion asking price. 24 Hour Fitness was started in 1983 by


$1.6 billion in 2005. It tried to sell 24 Hour Fitness 18 months ago, but the deal never materialized with reports at the time sug- gesting that offers had come in below the $2 billion asking price. 24 Hour Fitness was started in 1983 by


Mark Mastrov. The business now has about 3 million members, 420 clubs in 18 U.S. states and 15 clubs in three Asian countries.


Mark Mastrov. The business now has about 3 million members, 420 clubs in 18 U.S. states and 15 clubs in three Asian countries.


, Inc., including the tooling, ma- chinery and employment base in Indepen- dence, Virginia. Under a separate agree- ment, Med-Fit Systems' ownership also purchased the land and all of the buildings. While Med-Fit Systems has indicated it is committed to keeping its employees work- ing in Virginia, a recent slowdown in sales trends required the seasonal adjustment of staff at the manufacturing facility. At the same time, the ownership decided to put Nautilus commercial assets up for sale. Med-Fit Systems expects that a synergistic partner will be able to take the company to the next level with the appropriate capitalization needed to excel in the highly competitive global marketplace.


Med-Fit Systems Announces Nautilus Commercial Assets For Sale In February, 2010, Med-Fit Systems, Inc. pur- chased the commercial assets of Nautilus®, Inc., including the tooling, machinery and employment base in Independence, Virginia.


Med-Fit Systems Announces Nautilus Commercial Assets For Sale


Buyer Closes in on Sale of Under a separate agreement, Med-Fit Systems'


wnership also purchased the land and all of t According to The Financial Times, the own- e While Med-Fit Systems has indicated it is c business.


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May/June 2014 Fitness Business Canada 11 May/June 2014 Fitness Business Canada 11


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