Cybex International will be “going private” after shareholders overwhelmingly approved the sale of the outstanding publicly traded shares to the company's largest shareholder, UM Holdings, on Feb. 6. The merger was approved in October by the company's board of directors. Based in Medway, Massachusetts, the manufacturer of fitness equipment will now become a subsidiary of UM Holdings run by John Aglialoro, Cybex's chairman and chief executive, and Joan Carter, a company director. UM will pay $2.55 a share in cash for all the outstanding shares except those owned by UM and its subsidiaries or by Aglialoro and Carter. Once standard closing conditions are met, Cybex' shares will be deregistered and will no longer be traded on any stock market.

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