Type: News Releases, EME Market Commentary
MUNICH (July 29, 2016) – Global law firm Reed Smith has advised Life Fitness and its parent company Brunswick Corporation (NYSE: BC) on the acquisition of Indoor Cycling Group (ICG), a manufacturer and worldwide known specialist for indoor cycling equipment. The acquisition will provide a cornerstone to expand Brunswick’s/Life Fitness’ group exercise segment. The team, led by Munich corporate partner Constantin Conrads, advised on all aspects of the acquisition, including the transaction and tax structure; labour, finance, IP and IT law; as well as on regulatory issues and merger control.
Terms of the acquisition were not disclosed. The transaction is subject to customary closing conditions and regulatory approval and is expected to close in the third quarter of 2016.
With the acquisition, Life Fitness, as one of the major commercial fitness equipment manufacturers, will be allowed to further diversify its product offering and provide a platform for expansion within the growing group exercise category. “With ICG’s innovative technology, expertise in cycling and talented team, we will be well-positioned to advance in the indoor cycling and group exercise categories,” said Life Fitness President Chris Clawson. “We’re thrilled to join the Life Fitness family and lead the effort to grow the business’ cycling and group exercise offering,” said Bernd Puerschel, ICG’s founder and chief executive officer, who will remain in his position after the acquisition is completed.
The Reed Smith team was led by Munich partner Constantin Conrads (corporate/M&A) and included partners Thomas Gierath (tax, Munich), Jan Weißgerber (employment, Munich), Dr. Anette Gärtner (IP, Munich/Frankfurt), Christian Stempfle (litigation, Munich), Rolf Hünermann (corporate compliance, Frankfurt), and counsel Dr. Thomas Fischl (IT, Munich) as well as associates Rita Novak (corporate, Munich), Maria Ottermann (IP, Munich), Artur Korn (corporate, Munich), Christina Nitsche (litigation, Munich), Dr. Sarah Helml (real estate, Munich), Phillip Bergmann (finance, Munich) and Martin Gätzner (employment, Munich). Also involved were partners Michelle Moore (corporate, Chicago) and James Cross (corporate, London) as well as associates Imogen Holmgren (corporate, London), James Hatchard (corporate, London) and Carl De Cicco (employment, London).
About Reed Smith
Reed Smith is a global relationship law firm with more than 1,700 lawyers in 26 offices throughout the United States, Europe, Asia and the Middle East. Founded in 1877, the firm represents leading international businesses, from Fortune 100 corporations to mid-market and emerging enterprises. Its lawyers provide litigation and other dispute resolution services in multi-jurisdictional and other high-stakes matters; deliver regulatory counsel; and execute the full range of strategic domestic and cross-border transactions. Reed Smith is a preeminent advisor to industries including financial services, life sciences, health care, advertising, entertainment and media, shipping and transport, energy and natural resources, real estate, manufacturing and technology, and education. For more information, visit reedsmith.com.
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