Interactive Strength Inc. (NASDAQ "TRNR") Signs Binding Agreement to Acquire Wattbike, a $15M+, Omni-Channel, Connected, Indoor- Performance-Bike Business
Interactive Strength (NASDAQ:TRNR) has signed a binding agreement to acquire Wattbike, a $15M+ revenue indoor performance bike business. The all-stock transaction is expected to close in Q2 2025 and aims to help TRNR generate over $65M in 2025 revenue on a pro forma basis.
Wattbike, founded in 2008, has sold over 100,000 bikes and is trusted by elite athletes, with installations in 3,500 top gyms worldwide and partnerships with major sports teams across NFL, NBA, MLB, NHL, and Premier League. The company offers both commercial and direct-to-consumer products, including the Air-Pro, AtomX, Atom, Proton, and Air models.
The merger creates a unique omni-channel fitness equipment portfolio with operations in the world's three largest fitness markets - US, Germany, and UK. The deal structure includes performance-based contingencies, with up to 60% of consideration tied to future performance. Wattbike shareholders will be locked up until at least June 2026.
Interactive Strength (NASDAQ:TRNR) ha firmato un accordo vincolante per acquisire Wattbike, un'azienda di biciclette da performance indoor con ricavi superiori a 15 milioni di dollari. La transazione, interamente in azioni, dovrebbe concludersi nel secondo trimestre del 2025 e mira ad aiutare TRNR a generare oltre 65 milioni di dollari di ricavi nel 2025 su base pro forma.
Wattbike, fondata nel 2008, ha venduto oltre 100.000 biciclette ed è fidata da atleti d'élite, con installazioni in 3.500 palestre di alto livello in tutto il mondo e partenariati con importanti squadre sportive nelle leghe NFL, NBA, MLB, NHL e Premier League. L'azienda offre sia prodotti commerciali che diretti al consumatore, inclusi i modelli Air-Pro, AtomX, Atom, Proton e Air.
La fusione crea un portafoglio unico di attrezzature fitness omni-channel con operazioni nei tre più grandi mercati fitness del mondo: Stati Uniti, Germania e Regno Unito. La struttura dell'accordo include contingenze basate sulle performance, con fino al 60% del corrispettivo legato alle performance future. Gli azionisti di Wattbike saranno bloccati fino ad almeno giugno 2026.
Interactive Strength (NASDAQ:TRNR) ha firmado un acuerdo vinculante para adquirir Wattbike, un negocio de bicicletas de rendimiento en interiores con ingresos superiores a 15 millones de dólares. La transacción, que será totalmente en acciones, se espera que se cierre en el segundo trimestre de 2025 y tiene como objetivo ayudar a TRNR a generar más de 65 millones de dólares en ingresos en 2025 en base pro forma.
Wattbike, fundada en 2008, ha vendido más de 100,000 bicicletas y es confiable para atletas de élite, con instalaciones en 3,500 gimnasios de primer nivel en todo el mundo y asociaciones con equipos deportivos importantes en la NFL, NBA, MLB, NHL y Premier League. La compañía ofrece tanto productos comerciales como directos al consumidor, incluidos los modelos Air-Pro, AtomX, Atom, Proton y Air.
La fusión crea un portafolio único de equipos de fitness omni-canal con operaciones en los tres mercados de fitness más grandes del mundo: EE. UU., Alemania y Reino Unido. La estructura del acuerdo incluye contingencias basadas en el rendimiento, con hasta el 60% de la contraprestación vinculada al rendimiento futuro. Los accionistas de Wattbike estarán bloqueados hasta al menos junio de 2026.
Interactive Strength (NASDAQ:TRNR)는 Wattbike를 인수하기 위한 구속력 있는 계약을 체결했습니다. 이 실내 성능 자전거 사업은 1500만 달러 이상의 수익을 올리고 있습니다. 이번 거래는 전량 주식으로 이루어지며 2025년 2분기에 마무리될 것으로 예상되며, TRNR이 2025년 기준으로 6500만 달러 이상의 수익을 창출하는 데 도움을 주는 것을 목표로 하고 있습니다.
2008년에 설립된 Wattbike는 10만 대 이상의 자전거를 판매했으며, 엘리트 운동선수들로부터 신뢰받고 있습니다. 전 세계 3,500개의 최고 체육관에 설치되어 있으며 NFL, NBA, MLB, NHL, 프리미어 리그의 주요 스포츠 팀과 파트너십을 맺고 있습니다. 이 회사는 Air-Pro, AtomX, Atom, Proton 및 Air 모델을 포함하여 상업용 및 소비자 직접 제품을 제공합니다.
이번 합병은 미국, 독일, 영국의 세계 3대 피트니스 시장에서 운영되는 독특한 옴니채널 피트니스 장비 포트폴리오를 만듭니다. 거래 구조에는 성과 기반의 조건이 포함되어 있으며, 최대 60%의 대가는 미래 성과에 연계되어 있습니다. Wattbike의 주주들은 최소한 2026년 6월까지 잠금 상태가 됩니다.
Interactive Strength (NASDAQ:TRNR) a signé un accord contraignant pour acquérir Wattbike, une entreprise de vélos de performance en intérieur avec des revenus de plus de 15 millions de dollars. La transaction, entièrement en actions, devrait se clôturer au deuxième trimestre 2025 et vise à aider TRNR à générer plus de 65 millions de dollars de revenus en 2025 sur une base pro forma.
Wattbike, fondée en 2008, a vendu plus de 100 000 vélos et est reconnue par des athlètes d'élite, avec des installations dans 3 500 salles de sport de premier plan dans le monde et des partenariats avec des équipes sportives majeures dans la NFL, la NBA, la MLB, la NHL et la Premier League. L'entreprise propose à la fois des produits commerciaux et des produits destinés aux consommateurs, y compris les modèles Air-Pro, AtomX, Atom, Proton et Air.
La fusion crée un portefeuille unique d'équipements de fitness omni-canal avec des opérations sur les trois plus grands marchés de fitness au monde : États-Unis, Allemagne et Royaume-Uni. La structure de l'accord comprend des conditions basées sur la performance, avec jusqu'à 60 % de la contrepartie liée à la performance future. Les actionnaires de Wattbike seront bloqués jusqu'à au moins juin 2026.
Interactive Strength (NASDAQ:TRNR) hat einen verbindlichen Vertrag zur Übernahme von Wattbike unterzeichnet, einem Unternehmen für Indoor-Leistungsfahrräder mit einem Umsatz von über 15 Millionen Dollar. Die gesamte Transaktion soll im zweiten Quartal 2025 abgeschlossen werden und zielt darauf ab, TRNR zu helfen, im Jahr 2025 auf pro forma Basis über 65 Millionen Dollar Umsatz zu generieren.
Wattbike, gegründet im Jahr 2008, hat über 100.000 Fahrräder verkauft und wird von Elite-Athleten vertraut, mit Installationen in 3.500 Top-Fitnessstudios weltweit und Partnerschaften mit großen Sportteams in der NFL, NBA, MLB, NHL und Premier League. Das Unternehmen bietet sowohl kommerzielle Produkte als auch Produkte für Endverbraucher an, darunter die Modelle Air-Pro, AtomX, Atom, Proton und Air.
Die Fusion schafft ein einzigartiges Omni-Channel-Fitnessgeräte-Portfolio mit Aktivitäten in den drei größten Fitnessmärkten der Welt - den USA, Deutschland und dem Vereinigten Königreich. Die Struktur des Deals beinhaltet leistungsabhängige Bedingungen, wobei bis zu 60 % der Gegenleistung an zukünftige Leistungen gebunden sind. Die Aktionäre von Wattbike werden bis mindestens Juni 2026 gesperrt sein.
- Expected to generate over $65M in 2025 revenue on a pro forma basis
- Deal expected to be immediately accretive to TRNR's results
- Significant operating synergies through shared international distributors
- No cash consideration required - all-stock transaction
- Performance-based structure protects TRNR shareholders with 60% contingent on future results
- Significant shareholder dilution through all-stock transaction
- Integration risks across three different markets (US, Germany, UK)
- Lock-up period until June 2026 may impact stock liquidity
Insights
Interactive Strength's acquisition of Wattbike represents a strategic expansion that fundamentally transforms TRNR's growth trajectory. The
The transaction structure is notably shareholder-friendly. Being all-stock with no cash consideration preserves TRNR's capital position. Most importantly, the performance-contingent structure—with up to
The acquisition strengthens TRNR's position in the world's top three fitness markets (US, Germany, UK), creating significant cross-selling opportunities through shared distribution networks like WOODWAY. Additionally, Wattbike's established relationships with over 3,500 premium gyms (including Equinox and Virgin Active) and 1,000+ elite sports teams provide TRNR immediate access to high-value customer segments that would otherwise require years to penetrate.
With this being TRNR's third acquisition in 18 months, management is demonstrating execution capabilities in their roll-up strategy within the fragmented fitness equipment market. The immediate accretive nature of the deal suggests near-term financial benefits alongside longer-term strategic advantages.
This acquisition gives TRNR immediate credibility in performance sports training—a premium segment where Wattbike has cultivated extraordinary brand equity. Wattbike's presence in all 20 Premier League teams, all NHL teams, and multiple NBA championship franchises represents the strongest possible endorsement in professional sports, essentially validating their technology at the highest performance levels.
The combined entity creates a unique portfolio spanning TRNR's CLMBR and FORME products with Wattbike's indoor cycling solutions. This multi-modality approach mirrors how elite training facilities actually operate—using complementary equipment types rather than single-solution providers.
Wattbike's penetration into medical testing (over 1 million assessments through providers like Bupa) demonstrates crossover potential beyond fitness into healthcare applications. This medical/health credibility creates defensibility against commodity exercise equipment and potential insurance reimbursement opportunities.
The technical metrics focus of Wattbike products (power output, pedaling efficiency, etc.) aligns perfectly with the growing quantified-self movement among serious fitness enthusiasts. Their user base logging 260,000+ monthly rides shows strong engagement that TRNR can leverage across their expanded platform.
By combining Wattbike's technical expertise and elite sports reputation with TRNR's distribution capabilities and public market resources, this acquisition creates a differentiated competitor in the connected fitness space—one built on performance credibility rather than just entertainment value.
Transaction Expected to Help TRNR Generate More than
Wattbike is the Leading, Indoor-Bike Brand for Elite-Athlete Training and is Used by Olympians and Professional Sports Teams Worldwide - Including the NFL, NBA, MLB, NHL and Premier League
TRNR Listing, Global Distribution Network to Help Wattbike Accelerate Growth, Especially in Key Markets Like US and Germany; Wattbike's Deep Penetration into Leading UK Gyms and Expanding D2C Customer Base to Similarly Speed Up Step-Changes to TRNR Top and Bottom Lines
Transaction Delivers on Previously-Announced LOI, Combines Highly Complementary Businesses to Create a Scaled, International Operation Anchored in the US, Germany and UK, the #1, #2 and #3 Fitness Markets Globally
Deal - Expected to be TRNR's 3rd Within a Year-and-a-Half - Builds on its Transformative Portfolio Strategy for Creating Long-Term Shareholder Value
Acquisition Expected to Close as Early as the Second Quarter of 2025, Subject to Standard Regulatory Requirements
AUSTIN, TX AND NOTTINGHAM, UK / ACCESS Newswire / April 8, 2025 / Interactive Strength Inc. (NASDAQ:TRNR) ("TRNR" or the "Company"), maker of innovative specialty fitness equipment under the CLMBR and FORME brands, today announced it has signed a binding transaction agreement to acquire Wattbike, the pioneering indoor performance training bike business trusted by elite athletes and fitness enthusiasts worldwide, which has cumulatively sold more than 100,000 bikes. The binding agreement is 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 - which also has a stellar global reputation among elite athletes and professional sports teams, health and medical professionals and top gyms. The deal is expected to close as early as the second quarter and is expected to be immediately accretive to TRNR's results.
"We are very energized to welcome Wattbike, its dedicated team and its many customers to the TRNR portfolio," said TRNR Founder and CEO Trent Ward. "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. 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."
"Joining forces with Interactive Strength is an exciting step for Wattbike," said Stephen Loftus, CEO of 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."
"What Stephen and the team have been able to accomplish since the challenges of the pandemic is fantastic," said Dan Stern, Partner at Piper PE, Wattbike's majority shareholder. "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."
Concluded Mr. Ward: "We've noted before that the global health and wellness market is growing, but also fragmented. This reality means that a truly differentiated portfolio of fitness equipment, content and solutions - like the one we believe we are building across Wattbike, Sportstech, FORME and CLMBR- has a real edge. TRNR will be able to provide a wider variety of customers a wider variety of options for healthy exercise across many channels, in almost any major market anywhere in the world. After adding Wattbike and Sportstech, we believe TRNR will present the market with an offering that no other single fitness-focused business can match."
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.
More About Wattbike
Wattbike is a
Wattbike now offers customers worldwide a range of equipment and training for both commercial and DTC uses. Its Air-Pro - new this year - and AtomX bikes target the fitness business segment of the market, encompassing training from elite through mainstream uses. Consumers and individuals meanwhile can choose from the Atom, Proton and Air models at different price points and levels of versatility. The Proton bike is a core example of the company extending its trusted, precision technology into a flexible, multi-use format that helps those dedicated to their fitness to train for a variety of goals, on a bike that's easily shared with different users at home. The Air translates the platform used in elite sports and gyms into the home as well, focused on the HIIT/team sports individual. Wattbike also offers the Wattbike Hub app to any fitness enthusiast with a Wattbike or using a Wattbike in any gym facility - uniquely allowing users access to world-class training and metrics without a subscription. This training app lets users achieve fitness goals efficiently and effectively, offering hundreds of workouts and training plans developed by top fitness experts and inspired by Wattbike's expertise in elite sports and healthcare.
Highlights of Wattbike's footprint and achievements include:
More than 1,000 elite sports teams - including all 20 Premier League football teams; all NHL teams; 4 NBA championship teams; and many NFL and MLB franchises - rely on Wattbike equipment and training.
3,500 of the best gyms in the world - including Equinox, David Lloyd's and Virgin Active - have Wattbikes installed.
Leading UK healthcare providers like Bupa and Spire Healthcare have used Wattbike equipment to conduct over 1 million medical tests, fitness evaluations and other healthcare assessments.
More than 1,000 schools and academic institutions have installed Wattbikes worldwide
More than 500,000 military and uniformed services personnel, including the US Navy Seals, have trained on Wattbikes
Over 260,000 rides per month logged on Wattbike Hub last year.
Across the top three global fitness markets of the US, Germany and the UK, Wattbike is installed in 3,250 gyms, with the highest concentration in the UK.
Transaction Overview
TRNR will acquire
100% of Wattbike in an all-stock transaction.The shareholders of Wattbike will be locked up until at least June 2026 and there is no cash consideration being paid to those investors.
This performance-driven valuation structure, with up to
60% of the total consideration being contingent upon future performance, protects the TRNR shareholders and should ensure an attractive acquisition multiple of earnings.The acquisition does not have a financing contingency.
For more information see TRNR's investor website as well as its required filings with the U.S. Securities and Exchange Commission (SEC).
TRNR Investor Contact
ir@interactivestrength.com
TRNR Media Contact
john@sintercompany.com
Wattbike Media Contacts
Nicky Jobson
PACE PR
nicky@pace-pr.co.uk
Phone: +44 (0) 7920165103
Kate Allen
Compete PR
kate@competepr.com
Phone: +44 (0) 7754072648
About Interactive Strength Inc.:
Interactive Strength Inc. produces innovative specialty fitness equipment and digital fitness services under two main brands: 1) CLMBR and 2) FORME. Interactive Strength Inc. is listed on NASDAQ (symbol: TRNR).
CLMBR is a vertical climbing machine that offers an efficient and effective full-body strength and cardio workout. CLMBR's design is compact and easy to move - making it perfect for commercial or in-home use. With its low impact and ergonomic movement, CLMBR is safe for most ages and levels of ability and can be found at gyms and fitness studios, hotels, and physical therapy facilities, as well as available for consumers at home. www.clmbr.com.
FORME is a digital fitness platform that combines premium smart gyms with live virtual personal training and coaching to deliver an immersive experience and better outcomes for both consumers and trainers. FORME delivers an immersive and dynamic fitness experience through two connected hardware products: 1) The FORME Studio Lift (fitness mirror and cable-based digital resistance) and 2) The FORME Studio (fitness mirror). In addition to the company's connected fitness hardware products, FORME offers expert personal training and health coaching in different formats and price points through Video On-Demand, Custom Training, and Live 1:1 virtual personal training. www.formelife.com.
About Wattbike:
Wattbike is the pioneering indoor cycling brand trusted by elite athletes, coaches, and fitness enthusiasts worldwide. Developed in partnership with British Cycling, Wattbike is known for industry-leading accuracy, durability, and scientific-grade data, delivered through the Wattbike Hub app. Its products are used by all English Premier League football clubs, top NFL, NBA, and NHL teams, and Olympic federations, as well as over 3,500 gyms and health clubs globally. Wattbike is also trusted by the British Army, US Navy SEALs, and leading healthcare providers. Its mission is to be the ultimate training partner for improving health and performance.
Channels for Disclosure of Information
In compliance with disclosure obligations under Regulation FD, we announce material information to the public through a variety of means, including filings with the Securities and Exchange Commission ("SEC"), press releases, company blog posts, public conference calls, and webcasts, as well as via our investor relations website. Any updates to the list of disclosure channels through which we may announce information will be posted on the investor relations page on our website. The inclusion of our website address or the address of any third-party sites in this press release are intended as inactive textual references only.
Forward Looking Statements:
This press release includes certain statements that are "forward-looking statements" for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements do not relate strictly to historical or current facts and reflect management's assumptions, views, plans, objectives and projections about the future. Forward-looking statements generally are accompanied by words such as "believe", "project", "expect", "anticipate", "estimate", "intend", "strategy", "future", "opportunity", "plan", "may", "should", "will", "would", "will be", "will continue", "will likely result" or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the possibility of acquiring future businesses or completing the referenced transactions, the financial performance of those acquisitions and the resulting guidance of being accretive to earnings and more than
# # #
SOURCE: Interactive Strength Inc.
View the original press release on ACCESS Newswire
FAQ
What is the expected revenue impact of TRNR's Wattbike acquisition?
How is TRNR financing the Wattbike acquisition?
When will TRNR's acquisition of Wattbike close?
What is Wattbike's current market presence and revenue?
How will the Wattbike acquisition affect TRNR's market position?
