Technogym edges towards Italian stock market launch

Italian wellness giant Technogym is pushing forward with plans for a partial stock market launch/Initial public offering (IPO) in Italy, having filed preliminary papers with the country’s stock market regulators.

The company announced on Tuesday (22nd February) that it is moving ahead with a proposed stock market listing – first suggested in May 2015 – to facilitate an investment exit for private equity fund Arle Capital Partners.

Technogym founder and President Nerio Alessandri – together with his brother Pierluigi – owns 60% of the business, while Arle holds a 40% stake. The company said the “foreseen exit” of Arle could lead to this 40% stake being listed on the Italian stock market, should the company receive regulatory approval.

Alessandri has built the company from its inception in a garage in Cesena, Italy, into one of the most recognised wellness brands in the world. The firm has supplied fitness equipment for every Olympic Games since Sydney 2000 and has also landed the exclusive contract for this year's Rio 2016 Olympics.

Technogym reported solid earnings growth for 2015, with turnover of US$562 million representing a 10% increase on the previous year.

The company also reported encouraging progress across international markets, with exports now representing 93% of overall turnover.

Click here to contact Technogym Australia via their entry in the Australasian Leisure Management Supplier Directory.

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