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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.
Caterpillar’s Rob Rengel will join ATI Inc. on June 22 as VP-investor relations, succeeding the retiring David Weston.
Hut 8, energy infrastructure platform, has named NextEra Energy's Mark Eidelman head of IR and SVP of strategic finance.
Teneo handles easyJet as Minneapolis investment firm Castlelake mulls a possible takeover of the British budget airline.
Brunswick Group represents Universal Music Group as it rejects the unsolicited $65B takeover offer by billionaire Ed Ackman's Pershing Square Capital Management because it “fundamentally and materially undervalues” the world’s largest music company.
Prosek Partners brings on Danielle O’Brien as a managing director in its investor relations practice, based in the firm’s New York office.
