Nautilus has hired an investment banker, William Blair, as an adviser to find a buyer for its commercial Octane Fitness business. It bought Octane for $115 million in 2015 to broaden its range of fitness equipment for the clubs, while adding a line of higher-end elliptical machines for the home. After a strong start under Nautilus’ ownership, Octane’s growth levelled out, and it has underperformed in recent quarters, leading the group to book an impairment charge of $72.0 million last year, primarily on Octane’s goodwill and intangible assets. On the other hand, the recent coronavirus quarantines have shown the advantages of exercising at home, while many fitness clubs have been struggling to cope with the virus, reducing their demand for new equipment. As a result, Nautilus has decided to refocus on home fitness products and connected fitness experiences with its Bowflex, Nautilus and Schwinn brands.