Deals
NordicTrack Owner Icon Tops $7 Billion Valuation on New Funding
- L Catterton, Pamplona Capital Management are among investors
- Shares of competitor Peloton have more than tripled this year
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Icon Health & Fitness, a maker of exercise equipment and software, has raised $200 million from investors including L Catterton and current backer Pamplona Capital Management.
The owner of NordicTrack, ProForm and Freemotion brands, which also operates the on-demand streaming platform iFit, is profitable and posted revenue of more than $1 billion in the 12 months through September, the company said Monday. The latest round values Icon at more than $7 billion and is a precursor to a potential initial public offering within the next year, according to a person with knowledge of the matter.