Vancouver-based home exercise equipment maker Nautilus announced Wednesday that it has sold its Octane Fitness brand to TRUE Fitness Technology for $25 million. In a press release, CEO Jim Barr said the decision aligned with an ongoing push to streamline the company’s operations.
Nautilus sells equipment under several brands including Schwinn and Bowflex, most of which are aimed at the home fitness market. Octane Fitness was one of its few commercial-focused brands, and the company announced earlier this year that it would explore sale options in order to put a greater emphasis on home fitness.
Nautilus has seen a surge in home equipment sales this year due to the COVID-19 pandemic, which shuttered or reduced the capacity of gyms throughout the country.