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ICR Inc. and Edelman Smithfield represent Nautilus as the Vancouver, WA-based home exercise equipment company launches a strategic review, which may result in its sale.
Nautilus’ Q1 fiscal 2020 revenues crashed 70 percent to $54.8M as the pandemic-driven home exercise boom went bust. Its net loss soared to $60.2M compared to a $13.9M year-earlier profit.
The strategic review is designed to give Nautilus time to identify opportunities to accelerate its digital transformation.
Its so-called North Star strategy aims to shift Nautilus’ orientation from a product-led hardware company to a consumer-driven, digitally connected company, according to chairman Anne Saunders.
ICR’s John Mills handles the investment community, while Edelman Smithfield’s Ted McHugh fields media inquiries for Nautilus.
FGS Global represents private equity firm Thoma Bravo as it makes a $4.6B bid for Darktrace, a UK-based cybersecurity artificial intelligence firm.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
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