The Italian fitness equipment manufacturer Technogym is considering an initial public offering according to press reports. Currently, CEO Nerio Alessandri who founded the company in 1983 and his brother Pierluigi hold a 60 percent majority share in the company. The remaining 40 percent are owned by the private equity fund Arle Capital Partners.

Goldman Sachs, JP Morgan and Mediobanca are reported to globally coordinate the listing process which might possibly result in an evaluation of Technogym with 10 times its EBITDA. Health Club Management quotes a Technogym spokesperson that preliminary studies were underway, but a decision had not been made yet.

In 2014, Technogym’s revenues increased by 13 % to EUR 466m. The company generated an EBITDA of EUR 64.8m, 77 % more than in the previous year. At the same time, debt was decreased from EUR 87m in 2013 to only EUR 57.2m.

If the IPO was completed successfully, Technogym would be the third publicly traded manufacturer of fitness equipment. So far, Life Fitness which is owned by Brunswick Corp. and Precor as part of Amer Sports are listed on the stock exchange.

Source: Reuters, Health Club Management
Image: Technogym