Lowenstein represented longtime client Pamplona Capital Management (Pamplona) in a growth investment in ICON Health & Fitness (ICON), the world leader in innovation, design, and distribution of connected fitness equipment and software. Pamplona Capital Management’s investment was part of a $200 million round led by L Catterton.
ICON owns established industry-leading fitness brands NordicTrack®, ProForm®, and Freemotion®, which offer connected fitness membership services powered by iFit, the company’s patented content technology and media platform offering immersive live and on-demand streaming fitness and wellness programs. The investment will further accelerate ICON’s unique growth strategy of delivering its expansive range of interactive fitness products connected by iFit.
Pamplona is a specialist investment manager established in 2005 that provides an alternative investment platform across private equity and other diversified strategies. With offices in New York, London, Madrid, and Malta, Pamplona manages over $12 billion in assets for a variety of clients, including public pension funds, international wealth managers, multinational corporations, family offices, and funds of hedge funds. Pamplona invests long-term capital across the capital structure of its portfolio companies in both public and private market situations.
With approximately $20 billion of equity capital across seven fund strategies in 17 offices globally, L Catterton is the largest consumer-focused private equity firm in the world. Since 1989, the firm has made over 200 investments in leading consumer brands.
In December 2019, Lowenstein represented Pamplona in the $200 million growth capital equity investment in iFit, the connected fitness streaming platform owned by ICON.
About Lowenstein Sandler LLP
Lowenstein Sandler is a national law firm with over 350 lawyers based in New York, Palo Alto, New Jersey, Utah, and Washington, D.C. The firm represents leaders in virtually every sector of the global economy, with particular emphasis on investment funds, life sciences, and technology. Recognized for its entrepreneurial spirit and high standard of client service, the firm is committed to the interests of its clients, colleagues, and communities.