iFIT Health and Fitness Announces $355 Million Capital Raise

 

Organization to Invest Substantially in Core Brands, Innovation, and Member Engagement

LOGAN, Utah, February 28, 2022- - (BUSINESS WIRE)- - iFIT Health and Fitness ("iFIT" or "Organization"), a worldwide forerunner in associated wellness and intelligent substance with its broad arrangement of iFIT® and Sweat® streaming stages, and its exceptionally inventive gear brands NordicTrack® and Proform®, today declared a huge capital raise moored by L Catterton, the biggest worldwide buyer centered private value firm.

iFIT today has a drawn in local area of over 7.3 million complete individuals across in excess of 120 nations, with expanding part cooperation in exercises and occasions. The capital raise will empower more clarity of mind and interest in developing iFIT's driving brands, content library, and item contributions, with the sole reason for improving the part insight. Simultaneously, the Company will likewise put resources into effectiveness measures to increment benefit for reinvestment. As a feature of the present declaration, the Company has additionally agreeably settled its extraordinary suit matter with one of its investors.

"Following the present news, the Company is on solid monetary balance and stands prepared to catch the gigantic open door in front of us. We stay zeroed in on smoothing out our general business, while simultaneously, putting resources into and improving the part insight and proceeding to enhance across intuitive programming, content, and equipment. There isn't anything more essential to us than conveying an unequaled part insight with the most developed hardware and commitment to drive predominant outcomes for our individuals."

Marc Magliacano, a Managing Partner in L Catterton's Flagship Fund, said, "We are regarded to contribute and to assume a significant part in the progression of iFIT's future. The iFIT part recommendation stays better than serious contributions and with the new capital raise joined with our association, we assume the best of iFIT is on the way. The Company has the main coordinated arrangement that offers driving item marks (NordicTrack, Proform) and content stages (iFIT, Sweat) which rise above scenes, channels, item classes, and geologies. iFIT is an incorporated wellness stage that is situated to win on a worldwide scale, and we anticipate being a piece of it."

About iFIT iFIT® is a worldwide wellness and prosperity membership innovation organization that gives unparalleled wellness encounters and answers for its developing local area of over 7.3 million individuals in north of 120 nations. iFIT's industry-driving brands - NordicTrack®, ProForm®, Sweat®, Freemotion®, Weider® and 29029® - are fueled by the iFIT incorporated wellbeing and wellness stage, which consistently interfaces the organization's restrictive programming, experiential substance and intelligent equipment. Situated in Logan, Utah, with workplaces in Paris, Shanghai, Sydney and Leeds, the organization offers vivid, versatile, customized exercise encounters for each wellness level and interest. iFIT conveys these protected intuitive encounters through a broad contribution of live and on-request happy across the business' broadest scope of associated wellness modalities. iFIT is a trailblazer and pioneer in the wellbeing and wellness industry with in excess of 400 gave and forthcoming licenses.