Jay Bernstein, a partner at KPS Capital Partners, Life Fitness’ majority shareholder, said, “Given his extensive fitness industry and leadership experience, we believe that Chris is uniquely positioned to once again lead Life Fitness and help the company succeed under KPS’ ownership.
“We thank Jason for his many contributions during his tenure with Life Fitness, particularly his leadership during a time of change and transition, and wish him every success in the future.”
Clawson first joined Life Fitness in 1994 in a product development role. After 10 years with the company, he went on to several fitness industry leadership roles, including President of Matrix Fitness Systems, before returning in 2010. He holds an MBA from Northwestern University’s Kellogg School of Management and a bachelor’s degree from San Diego State University.
Life Fitness also announced that Steve Klyn has been appointed chief financial officer. Klyn worked with KPS since 2012 as CFO of one of its portfolio companies, International Equipment Solutions, a market-leading manufacturer of engineered equipment.
It was also announced that Augie Nieto, founder of the modern-day Life Fitness company, will be a co-investor in the business and will be appointed to its Board of Directors. Nieto served as president of Life Fitness from 1977 to 2000 and helped transform the company from a single-product business to the market leader in the commercial fitness equipment industry.
Bernstein added, “We are thrilled to bring Augie back as an investor and a strategic partner. We are confident that his experience and vision will help Life Fitness build on its leadership position and drive forward its legacy of being a strong, focused, and innovative global market leader.”
In May, Brunswick Corp. sold its fitness division, led by Life Fitness, for $490 million. The Life Fitness business includes Life Fitness, Hammer Strength, Cybex, Indoor Cycling Group, SCIFIT and Brunswick Billiards.
Photo courtesy Life Fitness
