Fenwick & West represented Peloton Interactive, Inc. (NASDAQ: PTON), a leading interactive fitness platform, in its agreement to acquire Precor, one of the largest global commercial fitness equipment providers with a significant U.S. manufacturing presence, in a transaction valued at $420 million USD.
With the acquisition, Peloton plans to establish U.S. manufacturing capacity, boost research and development capabilities with Precor's team, and accelerate Peloton's penetration of the commercial market. More information can be obtained from Peloton’s announcement.
Fenwick has served as counsel to Peloton for several years, including representing the company in its 2019 initial public offering. The Fenwick transaction team for Peloton’s acquisition of Precor was led by corporate partner Ethan Skerry and included associates David Frydman and Stephanie Cheng and law clerk Riddhi Adhikari; executive compensation & employee benefits partner Matthew Cantor and associates Corinne Nhaissi and Jonathan Stephenson; privacy & cybersecurity counsel Helen Christakos; technology transactions and IP partner Ralph Pais and partner elect Joseph Schenck, with IP associates Ali Kongats, Albert Tawil and Saad Hassan and law clerks Ibeabuchi Oteh and Barbara Wong; trademark partner elect Mark Jansen and associate Jessica Chung; antitrust & trade regulation partner Mark Ostrau and counsel Ashley Walter; and tax partner William Skinner and associate Kris Hatch.