Michael Bruno, a fitness industry veteran for more than 20 years, reached an agreement to purchase controlling interest in the parent company of Star Trac, the cardiovascular and strength equipment fitness company. Related parties were expected to close the deal by Friday, July 9.
Commenting on the acquisition, Bruno affirmed that the “reorganization provides the resources for a strong balance sheet and positions Star Trac for long-term success.”
Company President and COO Mike Leveque, a 17-year Star Trac veteran, also declared his optimism in the marriage. “Becoming a part of Bruno's growing family of fitness companies is a tremendous opportunity for Star Trac,” Leveque said.
Initially, the company plans to consolidate its U.S. operations to one Southern California location. By doing so, the company will improve efficiencies and communications which will inevitably segue into further growth opportunities. In this situation, less is more.
