Amynta Group acquires prolonged guarantee operation from iFIT Well being & Health

NEW YORK and Logan, Utah, September 13, 2022 /PRNewswire/ — AmyntaGroup, a leading provider of insurance services, has acquired the extended warranty operations of iFIT Health & Fitness Inc., operated through its wholly owned subsidiary, Universal Technical Services (UTS).

iFIT is the industry’s largest home fitness equipment company, whose equipment brands include NordicTrack, ProForm, Weider and FreeMotion. UTS is the exclusive distributor and maintainer of branded extended warranty and maintenance plans for all brands of iFIT fitness equipment in the US and international markets. As part of the transaction, Amynta has entered into a long-term strategic partnership with iFIT to provide a full-service platform with extended warranty protection and maintenance plans for all iFIT fitness equipment. UTS is located in Logan, Utah and will operate under the continued leadership of Nick PalmerVice President of UTS, and Greg LindsayDirector of UTS.

“I’m delighted to welcome Nick, Greg and the UTS team to Amynta,” he said Mortek team, President of Global Consumer Guarantee at Amynta. “This transaction expands our footprint in fitness with a well-established operating platform serving well-known fitness brands. UTS brings expertise and scale to the fitness category, complementing our offering and aligning with our strategy to build and grow our position in attractive consumer markets.”

“I am very pleased to announce the sale of our extended warranty business and our strategic partnership with Amynta,” he said Dale Gerhard, Chief Financial Officer of iFIT. “Amynta provides best-in-class warranty solutions that enhance the iFIT member experience across our fitness product line. This partnership will allow iFIT to focus on developing our best-in-class fitness technology, member content and products while strengthening our Extended Warranty solutions for NordicTrack, ProForm, FreeMotion and iFIT members worldwide. We look forward to working with Amynta to support our members in the years to come.”

Truist Securities, Inc. acted as financial advisor and Kirkland & Ellis LLP acted as legal advisor to iFIT.

About Amynta

The Amynta Group is a leading insurance services company with more than $3.5 billion in Managed Premium and 2,000 employees North America, Europeand Australia. As an independent, customer and insurance-centric company, Amynta provides leading carriers, wholesalers, retail agencies, automotive dealerships, OEMs and consumer goods retailers with innovative insurance and warranty protection solutions. Amynta operates through three segments: General Agency Management; Warranty, including automotive, consumer and specialty equipment; and Specialty Risk Services. For more information, visit www.amyntagroup.com.

About iFIT

iFIT® is a global subscription technology company for fitness and wellness, providing unmatched fitness experiences and solutions to its growing community of over 7.7 million members in over 120 countries. iFIT’s industry-leading brands – NordicTrack®, ProForm®, Sweat®, Freemotion®, Weider® and 29029® – are powered by the integrated health and fitness platform iFIT, which seamlessly combines proprietary software, experience content and interactive hardware. Based in Logan, Utahwith offices in Paris, shanghai, Sydney and leedsthe company offers immersive, adaptive, personalized training experiences for every fitness level and interest. iFIT delivers these patented interactive experiences through a rich offering of live and on-demand content across the broadest range of connected fitness modalities in the industry. iFIT is a leader and pioneer in the health and wellness industry with more than 400 patents issued and pending. Visit ifit.com for more information.

Amynta Media Contact:

Brenna Tetley
Telephone: 646.887.9498
E-mail: [email protected]

Amynta Mergers & Acquisitions Contact:

Chris Ezbiansky
Telephone: 646.207.9674
E-mail: [email protected]

iFIT media contact:

Colleen Logan
E-mail: [email protected]

SOURCE The Amynta Group

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