True Fitness Technology acquired Octane Fitness from Nautilus for $25 million on Oct. 14, assuming $3 million in warranty liabilities and $0.5 million in vendor recourse lease obligations. The chief executive of Nautilus, Jim Barr, says in the company’s press release that the sale should “streamline our operations and accelerate the transformation of the consumer side of our business,” which Nautilus aims to achieve by “dramatically enhancing connected in-home fitness.” Nautilus bought Octane for $115 million in 2015 to broaden its range of fitness equipment for clubs, while adding a line of higher-end elliptical machines. It said a few months ago that it was taking a $29.0 million charge to write off the investment on its disposal. True Fitness was founded in 1981. It designs, builds and services cardio, strength and functional training equipment.
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