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2021-10-08

NordicTrack Maker IFit Postpones IPO Citing Market Conditions

Exercise-machine maker iFit Health & Fitness Inc. The company, whose brands include NordicTrack, Pro

NordicTrack Maker IFit Postpones IPO Citing Market Conditions

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Vista Equity Partner-backed software maker Allvue Systems Holdings Inc. and personal care products manufacturer KDC/One Development Corp. both scrapped offerings in recent weeks.\nLife Time Group Holdings Inc., a boutique fitness center backed by TPG and Leonard Green, shrank its IPO size Wednesday night to raise $702 million, after setting a target to raise as much as $966 million.\nLogan, Utah-based iFit, previously known as Icon Health & Fitness Inc.,raised $200 million last year from backers including L Catterton and Pamplona Capital Management. The round valued it at $7 billion, a person familiar with the matter said.\nThe company operates in 120 countries and has 6.4 million members. Its revenue more than doubled to $1.75 billion during the year ended May 31, according to its filings. 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