Johnson Health Tech (JHT), the Cottage Grove, WI-based parent company of such fitness brands as Matrix, Vision, AFG and Horizon, has acquired Magnum Fitness, South Milwaukee, WI.
Magnum Fitness, a developer of commercial strength training products for more than 30 years, adds a comprehensive commercial strength product portfolio to JHT, Mark Zabel, vice president of global product development and marketing at JHT, said in a release. The product line greatly increases the competitiveness of JHT’s product offering in adjacent channels of the commercial market, he added.
In addition to rounding out the existing product portfolio, the acquisition of Magnum also gives JHT North American-based manufacturing capabilities.
“This acquisition allows us to offer customization and flexibility options to our commercial customers that simply were not feasible before,” Zabel said. “We’re excited about the possibilities.”
Over the next 12 months, the JHT management team will evaluate how to best integrate the existing Magnum team, product lines, distributors and facilities into its existing operations. Ron Carringi will serve as general manager of the manufacturing facility. Prior to this post, Carringi served as a director of engineering at JHT for nine years, and he brings experience in managing strength manufacturing facilities to his new position.
Magnum Fitness was established in 1978 by Larry Nelson and Pat Ellis. Its product line includes more than 300 commercial products.
The announcement of the acquisition came on Tuesday, the day before the company released its revenue growth for the first six months of 2012. As a private company, JHT does not offer actual revenue figures, only growth by percentages.
For the first six months of 2012, JHT’s global sales for its retail and commercial brands increased by 14 percent while global sales for its Matrix brand increased by 21.1 percent and North America sales for Matrix increased by 26.5 percent. The company did not report second quarter revenue although it did report that first quarter 2012 revenues increased 28 percent over the same period in 2011. It also reported a 23 percent increase in sales in 2011.