Technogym S.p.A. is a world leading supplier of technology and design-driven products and services in the Wellness and Fitness industry. Salhouse Holding S.a r.l., a vehicle of Arle Capital Partners, sells 25% of the Technogym shares (50 million) at an issue price of EUR 3.25 and thus raised EUR 162.5 million. If the greenshoe option over further 7.5 million Technogym shares was fully exercised, the fraction of shares sold would increase to 28.75%.

In total, the issue price valued the fitness equipment manufacturer at EUR 650 million. However, the stock price increased by 11.4% to EUR 3.62 during the first trading day. The Technogym shares were offered via the initial public offering (IPO) to institutional investors in Italy and abroad, and to qualified institutional buyers in the United States. The lock-up period for each of Technogym S.p.A. and the current shareholders (Wellness Holding and Salhouse Holding) will last for 180 days from the closing. Nerio Alessandri will continue to hold 60% of the shares in the company after the IPO.

In 2015, Technogym generated total revenues of EUR 511.8 million, an increase of 10% compared to 2014. The EBITDA was EUR 87 million in 2015 and thus almost 40% above the 2014 result.

Founded in 1983, Technogym provides a complete range of cardio, strength and functional equipment alongside a cloud-based digital platform enabling consumers to connect with their personal wellness experience anywhere, both on Technogym equipment and via mobile apps on any device. Technogym targets 4 specific market segments: Fitness Clubs; Hospitality & Residential; Health, Corporate & Public (HCP); and Consumer.

Technogym is the exclusive and official supplier of training equipment to the Rio 2016 Summer Olympic Games and also supplied the previous four Summer Olympic Games (Sydney 2000, Athens 2004, Beijing 2008 and London 2012) as well as the Turin 2006 Winter Games.

The Company employs about 2,000 people in 14 branches across Europe, the United States, Asia, the Middle East, Australia and South America, exporting more than 90% of production to over 100 countries.

Source: Technogym