17 Sep 2019 Spa Business: uniting the world of wellness
 
 
HOME
JOBS
NEWS
FEATURES
PRODUCTS
FREE DIGITAL SUBSCRIPTION
PRINT SUBSCRIPTION
ADVERTISE
CONTACT US
Sign up for FREE ezine

SELECTED ISSUE
Health Club Management
2019 issue 8

View issue contents

Spa Business - Augie Nieto

HCM celebrates

Augie Nieto


The Life Fitness entrepreneur and ALS charity fundraiser is returning to the business that made his name

Augie and Lynne Nieto founded Augie’s Quest to find a cure for ALS PHOTO: ©Lynne Nieto

This issue of HCM we celebrate the return of industry legend Augie Nieto to Life Fitness. Nieto served as president from 1977 to 2000 and helped transform the company from a single-product business to one of the world’s largest commercial fitness equipment suppliers.

Nieto’s diagnosis with ALS in 2005 and subsequent battle with the disease is well documented, as is his contribution to a cure, which saw him establish a global charity, Augie’s Quest, with his wife, Lynne.

So far, the organisation has raised over US$75m towards research into a cure and Nieto’s strength, resolve and bravery in battling the disease has won him the respect of the industry and the wider business community.

Life Fitness says Nieto will return as a co-investor in the business and will also be appointed to its board of directors.

The move follows the acquisition of the company by KPS Capital Partners in July, which has been followed by a shake up of the management team and board.

New beginnings
Life Fitness was valued at US$490m (€434m, £388m) at the time of the deal, which was below its previous valuation and the new owners are moving to drive business growth.

Jay Bernstein, partner at KPS said, “We’re thrilled to bring Augie back as an investor and a strategic partner. We’re confident that his experience and vision will help Life Fitness drive forward its legacy of being a strong, focused, and innovative global market leader.”

Life Fitness has also appointed Chris Clawson as its CEO, succeeding the outgoing Jason Worthy.

The company’s family of fitness brands includes Life Fitness, Hammer Strength, Cybex, Indoor Cycling Group and SCIFIT – all brought into the group by acquisition.

As Life Fitness has not yet optimised these investments, it will be interesting to see how strategy develops going forward under the new leadership and with Nieto back on the team.

Nieto has held numerous other non-exec and advisory roles and currently serves as an operating advisor to North Castle Partners while being on the board of Curves, Jenny Craig and Hydromassage.

You can donate to Augie’s Quest at: https://augiesquest.org


Originally published in Health Club Management 2019 issue 8

Published by The Leisure Media Company Ltd Portmill House, Portmill Lane, Hitchin, Herts SG5 1DJ. Tel: +44 (0)1462 431385 | Contact us | About us | © Cybertrek Ltd
Jobs   News   Products   Magazine
HCM celebrates
Augie Nieto

The Life Fitness entrepreneur and ALS charity fundraiser is returning to the business that made his name

This issue of HCM we celebrate the return of industry legend Augie Nieto to Life Fitness. Nieto served as president from 1977 to 2000 and helped transform the company from a single-product business to one of the world’s largest commercial fitness equipment suppliers.

Nieto’s diagnosis with ALS in 2005 and subsequent battle with the disease is well documented, as is his contribution to a cure, which saw him establish a global charity, Augie’s Quest, with his wife, Lynne.

So far, the organisation has raised over US$75m towards research into a cure and Nieto’s strength, resolve and bravery in battling the disease has won him the respect of the industry and the wider business community.

Life Fitness says Nieto will return as a co-investor in the business and will also be appointed to its board of directors.

The move follows the acquisition of the company by KPS Capital Partners in July, which has been followed by a shake up of the management team and board.

New beginnings
Life Fitness was valued at US$490m (€434m, £388m) at the time of the deal, which was below its previous valuation and the new owners are moving to drive business growth.

Jay Bernstein, partner at KPS said, “We’re thrilled to bring Augie back as an investor and a strategic partner. We’re confident that his experience and vision will help Life Fitness drive forward its legacy of being a strong, focused, and innovative global market leader.”

Life Fitness has also appointed Chris Clawson as its CEO, succeeding the outgoing Jason Worthy.

The company’s family of fitness brands includes Life Fitness, Hammer Strength, Cybex, Indoor Cycling Group and SCIFIT – all brought into the group by acquisition.

As Life Fitness has not yet optimised these investments, it will be interesting to see how strategy develops going forward under the new leadership and with Nieto back on the team.

Nieto has held numerous other non-exec and advisory roles and currently serves as an operating advisor to North Castle Partners while being on the board of Curves, Jenny Craig and Hydromassage.

You can donate to Augie’s Quest at: https://augiesquest.org

LATEST NEWS
Emerald Collection opens first resort in the Maldives and reveals two more developments for Zanzibar
Emerald Collection opens first resort in the Maldives and reveals two more developments for Zanzibar
CIDESCO announces speakers for 67th World Congress
CIDESCO, the world standard for the beauty and spa industries, has announced the speaker line up for its 67th World Congress and Exhibition.
Four Seasons and Harley Pasternak create fitness video series
Four Seasons has teamed up with fitness expert and Four Seasons Global Fitness Advisor Harley Pasternak, have teamed up to create a comprehensive video series designed to give guests help with five of the most common fitness challenges experienced by travellers.
Aman to open Bangkok resort
Hotel and resort brand Aman has signed a long-term partnership with Nai Lert Group to manage a hotel and branded residences in Bangkok, which is set to open in 2022.
+ More news   
 
COMPANY PROFILE
THALION Laboratories

Thalion has developed its unique expertise of being a harvester- producer. The family-owned compa [more...]
+ More profiles  
FEATURED SUPPLIER

Get ready to EVOLVE at #ISPA2019
The 2019 ISPA Conference & Expo is headed back to Las Vegas between 11 and 13 September 2019. [more...]
CATALOGUE GALLERY
 
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

19-20 Sep 2019

Termatalia: 19th International Fair of Thermal Tourism, Health and Welfare

Expourense, Ourense, Spain
19-23 Sep 2019

CIDESCO World Congress & Exhibition

Hyatt Regency, Chicago, United States
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2019

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS