Fitness equipment firm Nautilus Inc is looking for a buyer for its commercial equipment brand Octane Fitness – less than five years after acquiring it.
The firm, which purchased Octane from North Castle Partners in a deal worth US$115m in late 2015
, says the move is part of a strategy to "focus solely on growing, investing in 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 move brings to an end Nautilus' plans to grow and enter new markets via the commercial route.
When it acquired Octane Fitness, the company said it was a strategic move designed to help it accelerate growth by "extending into higher price point products, penetrate new channels of distribution and expand into new international markets".
Octane is known for zero-impact training equipment and its Zero Runner and XT-One cross trainer, while Nautilus’ fitness brand portfolio comprises Nautilus, Bowflex and Schwinn.
It is the second time in a little over 10 years that Nautilus has exited the commercial fitness sector. In 2009, it sold the commercial arms of Nautilus and Schwinn to Med-Fit. Both brands have since been acquired by Core Health and Fitness.
Nautilus has retained investment banker, William Blair, as its advisor for the potential Octane Fitness transaction.