Nautilus, Inc. Explores Options to Sell Octane Fitness
03 July 2020 - 6:05AM
Business Wire
- Driven by strategic decision to refocus on the home fitness
market
- Company has retained investment banker, William Blair, to
facilitate a potential sale of Octane Fitness
Nautilus, Inc. (NYSE:NLS), the innovation leader in home fitness
for over 30 years, announced its plan to pursue efforts to find a
potential buyer for Octane Fitness to focus solely on growing,
investing, and innovating in the home fitness equipment market.
“Our decision to explore the potential sale of Octane Fitness is
as a result of our long-term strategic planning process and a
conclusion to refocus more resources on what we do best: deliver
best-in-class home fitness products and connected fitness
experiences,” said Jim Barr, CEO of Nautilus, Inc.
The company has retained investment banker, William Blair, as
its advisor for the potential transaction.
About Nautilus, Inc.
Nautilus, Inc. (NYSE:NLS) is the global leader in innovative
home fitness solutions. The company’s diverse brand portfolio
includes Bowflex®, Nautilus®, Schwinn®, and Octane Fitness®, and a
broad selection of exercise bikes, cardio equipment and strength
training products. Nautilus, Inc. utilizes technology to develop
personalized, connected fitness solutions that empower and motivate
people to live a healthy lifestyle. The company sells its products
through direct and retail channels, as well as in commercial
channels. Nautilus, Inc. uses the investor relations page of its
website (www.nautilusinc.com/investors) to make information
available to its investors and the market.
This press release includes forward-looking statements
(statements which are not historical facts) within the meaning of
the Private Securities Litigation Reform Act of 1995. All of these
forward-looking statements are subject to risks and uncertainties
that may change at any time, including with respect to our
exploration of the described business unit sale, risks and
uncertainties as to the terms, timing, structure, benefits and
costs of any divestiture or separation transaction and whether one
will be consummated at all, and the impact of any divestiture or
separation transaction on our remaining business. Factors that
could cause Nautilus, Inc.’s actual expectations to differ
materially from these forward-looking statements also include risks
related to: not completing, or not completely realizing the
anticipated benefits from a sale; changes in the financial markets,
including changes in credit markets and interest rates; changes in
consumer fitness trends; and the impact of any future impairment.
Additional assumptions, risks and uncertainties are described in
detail in our registration statements, reports and other filings
with the Securities and Exchange Commission, including the “Risk
Factors” set forth in our Annual Report on Form 10-K, as
supplemented by our quarterly reports on Form 10‑Q. Such filings
are available on our website or at www.sec.gov. You are cautioned
that such statements are not guarantees of future performance and
that our actual results may differ materially from those set forth
in the forward-looking statements. We undertake no obligation to
publicly update or revise forward-looking statements to reflect
subsequent developments, events or circumstances.
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version on businesswire.com: https://www.businesswire.com/news/home/20200702005543/en/
Media Contacts: John Fread Nautilus, Inc. 360-859-5815
jfread@nautilus.com
Carey Kerns The Hoffman Agency 503-754-7975
ckerns@hoffman.com
Investor Relations: John Mills ICR, LLC 646-277-1254
john.mills@ICRinc.com
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