Hoist to purchase LeMond Fitness

It was no secret in the industry that LeMond Fitness was up for sale, and on Tuesday at the Health & Fitness Business Expo in Las Vegas, Hoist CEO Jeffrey Partrick confirmed to SNEWS that his company is the buyer.
Author:
Publish date:

It was no secret in the industry that LeMond Fitness was up for sale, and on Tuesday at the Health & Fitness Business Expo in Las Vegas, Hoist CEO Jeffrey Partrick confirmed to SNEWS that his company is the buyer.

HoistLeMond.jpg

“We’re hoping to close this week,” Partrick told SNEWS. He said Hoist has been toying with the idea of developing cardio equipment for a while and the company jumped at the chance to purchase a cardio brand they’re familiar with.

Partrick declined to say how much Hoist was purchasing LeMond for, but he said Hoist as a company has always admired LeMond’s products and the acquisition seemed like a good fit.

“We’ve known their products for a long time,” Partrick explained, noting that Partrick has worked with LeMond through the Southern California Busy Body Home Fitness stores which an investment group he led he purchased the stores back in 2009 when Busy Body filed for bankruptcy. “LeMond was a [vendor to] those stores. It’s a great company with great products, it just needs a home.”

Hoist will be that new home. If and when the deal is closed, Partrick said, LeMond’s headquarters will move into Hoist’s plant in San Diego, Calif. Partrick didn’t specify whether there would be any layoffs or new hires with the integration, but did say the deal would be good for business.

“It’s really a good thing for us,” Partrick said. “We just think it’s a good fit: Premium cardio products and premium strength products.”

--Ana Trujillo

Related

LeMond Fitness Revs Up

When StairMaster was bought by then-Direct Focus in bankruptcy auction in January, left without a dance partner was the bankrupt company's indoor-group-cycling branch, the LeMond RevMaster bike and program. Direct Focus (now The Nautilus Group) had its own Schwinn program and ...read more

LeMond Fitness Inks Deal With Life Fitness

Fresh off announcing its formation as a company and telling SNEWS it was ready to pounce, LeMond Fitness has inked a deal with Life Fitness, which will now be the exclusive distributor of the LeMond RevMaster group cycling bike and programs. Under the agreement, Life Fitness ...read more

Hoist enters sporting goods with BodyGear gyms

Hoist Fitness Systems, known for its premium home gyms and strength-training equipment that sell mostly at specialty retail, will introduce a line of four home gyms called BodyGear in January at approximately 50 stores in The Sports Authority family. The line, labeled for launch ...read more

Hoist.jpg

Hoist V6 Personal Pulley Gym

Home gyms have downsized so much that it’s not difficult to find one that not only fits into a pretty small space but also allows you to perform a large variety of exercises. The Hoist V6 cable gym is this type of product. It can fit into a corner or against a wall, taking ...read more