Fitness financials: Equity firm buys stake in Life Time Fitness, plus Nautilus

An equity firm bought a stake in Life Time Fitness, and Nautilus appointed a new CFO.
Author:
Updated:
Original:

Equity firm buys stake in Life Time Fitness

Green Equity Investors, a fund operated by Leonard Green & Partners, acquired a 9.2-percent stake in Life Time Fitness (NYSE: LTM).

Los Angeles-based Green Equity Investors and its affiliated companies paid an average price of $14.75 per share for more than 3.6 million shares of Life Time stock, according to a filing with the SEC.

The company noted in the filing that it will encourage Life Time to pursue options for enhancing shareholder value, including the possibility of Life Time going private, refinancing its debt, pursuing sale-leaseback transactions and making strategic acquisitions and divestitures.

Earlier this month, Green Equity bought a 17-percent stake in Whole Foods Market for $425 million. It also owns minority investments in The Container Store, David’s Bridal, Neiman Marcus Group, Petco Animal Supplies, Rite Aid Corp. and Sports Authority.

Nautilus appoints new CFO

In a filing with the SEC, Nautilus said it had appointed Kenneth Fish as the company's chief financial officer.

Fish's annual base salary will be $245,000, and he is eligible to participate in the company's incentive bonus program with a targeted annual bonus of 100 percent of his base salary. He also received a stock option exercisable for up to 75,000 shares of the company's common stock.

--Compiled by Wendy Geister

For more information about any public company on this page or its financial reports, as well as to view stock prices updated every 15 minutes, visit the SNEWS® Stock Market Updates. Click on: www.snewsnet.com/cgi-bin/snews/stock_report.html.

Related

Fitness financials: Sherborne says it controls Nautilus' board after shareholder vote, plus Nike, Amer Sports, Life Time Fitness

Sherborne says it controls Nautilus' board after shareholder vote Although the results are not official yet, Sherborne Investors LP, which owns a 23.5-percent stake in Nautilus (NYSE: NLS), issued a press release saying it had succeeded in its effort to gain control of the board ...read more

Fitness financials: Brunswick's Q2 fitness segment sales up 9 percent, plus Nautilus, Life Time Fitness

Life Fitness parent, Brunswick, shows Q2 fitness segment sales up 9 percent While Brunswick Corp. (NYSE: BC) swung to a second-quarter loss because it posted a hefty restructuring charge due to scaled-back production in its marine segment, its fitness segment posted a 9-percent ...read more

Fitness financials: Bally delays filing annual report, plus Nautilus, Sports Authority, Gaiam, Amer, Sara Lee, Life Time Fitness, Under Armour, Sears

Bally delays filing annual report, board OKs bonus for CEO TobackBally Total Fitness (NYSE: BFT) missed the March 16 deadline to file its 2005 annual report and said it expects to have it in to the SEC in April. The delay of its annual 10-K report stems primarily from a delay in ...read more

Fitness financials: Nautilus "bullish" on year, plus Brunswick, Under Armour, Life Time Fitness, Wal-Mart

Nautilus says it is "bullish" on the yearSummarizing its net sales and growth plans, Nautilus (NYSE: NLS) told analysts on a conference call announcing results for the second quarter ended June 30, 2006, that it was bullish on how it will do as the busy fitness season ramps up ...read more

Fitness financials: Life Time Fitness elects new board members, plus Nautilus

Life Time Fitness elects new board members Life Time Fitness (NYSE: LTM) has elected to its board of directors Jack W. Eugster and John K. Lloyd, effective Oct. 13. From 1980 until his retirement in 2001, Eugster, 64, served as chairman, president and CEO of Musicland Corp. He ...read more

Fitness financials: Analyst initiates Brunswick with 'hold' rating, plus Life Time Fitness, Foot Locker

Analyst initiates Brunswick with 'hold' rating An analyst initiated coverage on Brunswick Corp. (NYSE: BC) but gave it a "Hold" rating based on consumer spending and economic concerns. Brunswick's fitness portfolio includes Life Fitness, Parabody and Hammer Strength. With more ...read more

Fitness financials: Icon shows net loss despite sales gains, plus Nautilus, Bally, Amer, adidas, Reebok, NRF, Life Time Fitness, Finish Line, Wal-Mart

Icon shows net loss despite quarterly sales gainsDespite showing slightly increased net sales for the quarter ended Sept. 3, 2005, Icon Health & Fitness' bottom line still showed a net loss. The Logan, Utah-based, company had a net loss of $24.8 million, up from the $20.8 ...read more

Fitness financials: Nautilus shares hit new low after analyst downgrade, plus Life Time Fitness/Town Sports, Big 5, Forzani, Sport Chalet, Wal-Mart, Costco

Nautilus shares hit new low after analyst downgrade Shares of Nautilus (NYSE: NLS) fell to a new 52-week low on Jan. 10 after an analyst downgraded the company on restrained consumer spending and obstacles facing its turnaround plan. Marc Bettinger of Stanford Group Co. said ...read more

Fitness financials: Shareholder begins talks with Nautilus about turnaround plans, plus Bally, Life Time Fitness, Hibbett Sports, Dick's Sporting Goods, adidas, Foot Locker

Shareholder begins talks with Nautilus about turnaround plans Nautilus' (NYSE: NLS) largest shareholder, Sherborne Investors LP, has started talks with the company about its turnaround plans, according to a SEC filing. It owns 6.6 million shares, representing a 21 percent stake ...read more