Interactive Strength Inc. today announced it has signed a binding transaction agreement to acquire Wattbike,
Maker of innovative specialty fitness equipment under the CLMBR and FORME brands, Interactive Strength Inc. sees the acquisition as a “significant milestone for both growth businesses, forming a unique, omni-channel, fitness-equipment portfolio with key operations in each of the world’s three largest fitness markets – the US, Germany and the UK”
The announcement clarifies that the deal is expected to close as early as the second quarter and is expected to be immediately accretive to TRNR’s results.
Wattbike, a pioneering indoor performance training bike business, used by elite athletes and fitness enthusiasts globally, has cumulatively sold more than 100,000 bikes.
Market overview
The integration of Interactive Strength and Wattbike will create significant operating synergies, leveraging shared international distributors such as WOODWAY in the US and Germany and MeFit Pro in the Middle East.
Both companies have strong commercial partnerships with leading gym operators and direct-to-consumer (DTC) sales—Wattbike predominantly in the UK and TRNR in the US.
TRNR’s planned acquisition of Sportstech also strengthens its presence in Germany, supporting Wattbike’s projected growth in the priority US and German export markets. Additionally, Interactive Strength’s Quality and Supply team in Taiwan works closely with Wattbike’s long-standing manufacturing partner, Giant/AIPS, ensuring a seamless integration and continued commitment to product excellence.
Speaking when sharing news of the deal, TRNR founder and CEO Trent Ward comments: “We are very energized to welcome Wattbike, its dedicated team and its many customers to the TRNR portfolio.
Brand recognition and case study star power
Ward notes that “The brand, products and training content are incredible assets. Their indoor cycling training platform is arguably the best in the world of its kind for performance training, testing/benchmarking, rehab, injury prevention and low-impact conditioning.
“Leading gyms, healthcare facilities, universities, and even special forces military operations recognize this – along with many teams in the NFL, NBA, MLB, NHL and Premier League.”
Reflecting on the impact of the original Wattbike Atom – recently updated with the introduction of V2 – which grew the Wattbike audience, Ward notes, “By expanding their portfolio of indoor bikes from the elite/commercial arena deeper into consumer market segments and improving their award-winning and free-to-use training app, Stephen and the team have set Wattbike up for global success – especially when paired with TRNR’s marketing, distribution and sales footprint as well as our Nasdaq public listing.
“The combination is an outstanding opportunity for all of our customers, partners, employees and shareholders.”
Reflecting on the news, Stephen Loftus, CEO of Wattbike, comments: “Joining forces with Interactive Strength is an exciting step for Wattbike.”
“This deal gives our latest product launches and renewed growth a larger, scaled platform for marketing and distribution that will dramatically and cost-effectively accelerate our expansion across key international markets while staying true to our commitment to deliver world-class training solutions for athletes and fitness enthusiasts alike. It’s also exciting to become a key part, and driver, of a high-momentum business like TRNR, that’s natively aligned with our own growth and expansion goals, the importance of quality offerings, and focused specifically on the fitness, health and wellness markets.”
Talking about the business and its journey to this point, Dan Stern, Partner at Piper PE, Wattbike’s majority shareholder reflects: “What Stephen and the team have been able to accomplish since the challenges of the pandemic is fantastic.”
“They deepened the original reputation of and trust in their equipment, training and brand among elite athletes. But they also recognized and acted on the opportunity to broaden Wattbike’s portfolio and appeal by building out a much more diverse portfolio of equal-quality equipment and training programs for the larger, mainstream health and wellness market.
“The business is now well-positioned to accelerate and capture share across the top three fitness markets globally under Interactive Strength’s ownership, as well as to push further into Asia, where it has also been a big success to date. We wish Stephen and the team every success in this next phase.”
