Nautilus, Inc. said it had closed the sale of its subsidiary DashAmerica, Inc., d/b/a/ Pearl iZumi, to Shimano American Corporation, a division of cycling and fishing equipment provider Shimano, Inc.
Consideration for the sale was $69.4 million, comprised of $65.3 million in cash and the assumption of $4.1 million in long-term debt.
Proceeds from the sale of Pearl iZumi will be used to pay down current debt and fund future working capital needs.
