Nautilus, Inc. (NYSE:NLS) announced plans to explore options in order to sell Octane Fitness.
The decision, made Thursday by the Vancouver, Wash.-based firm, involves pursuing 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 CEO Jim Barr.
The company has retained investment banker, William Blair, as its advisor for the potential transaction.
Nautilus boasts a status as 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.
For its part, the Minnesota-based Octane claims to make "the best low-impact machines in the world. Just ask anyone who uses one. Its multiple award-winning cross trainers, including traditional standing elliptical machines, recumbent ellipticals, lateral ellipticals, incline cross trainers and more provide multiple premium choices to meet your needs and achieve results", according to the company website.
NLS shares 25 cents, or 2.7%, to $9.65
