We discussed one scrapped spinoff earlier this week – Brunswick’s Life Fitness – but, alas, it wasn’t an isolated incident. In this edition of Odds & Ends we catch you up on the latest in abandoned spin plans: 1. Thyssenkrupp’s Elevator Spinoff thyssenkrupp (TKAMY) shocked the markets with a stunning strategic about face ‘reset’ last week. Seven months… Read More »
Brunswick (BC) announced earlier this week that private equity firm KPS Capital Partners will acquire its fitness business for $490m in cash, ending the unit’s planned spinoff. Brunswick paid over $300m for the business back in 1997, but sales have been declining over the past few years. Brunswick CEO David Foulkes noted that ‘with the sale of the… Read More »
Boats, billiard tables and fitness equipment. Three years after the sale of its iconic bowling business, Brunswick(BC) continues to house a diverse and unconnected set of products. When a company is in such disparate businesses, it is only a matter of time before an activist investor comes along, urging a spinoff. That day arrived for Brunswick last week,… Read More »