SGB Update

The Lycra Company Announces New Equity Ownership

The Lycra Company announced that a group of financial institutions, comprising Lindeman Asia, Lindeman Partners Asset Management, Tor Investment Management, and China Everbright Limited (“New Shareholders”), have gained complete equity control of the company.

Mitchell & Ness Partners With NHL

The NHL, Fanatics and Mitchell & Ness announced an agreement giving Mitchell & Ness official rights to create apparel and accessories for the NHL and its 32 teams.

StockX Lays Off 8 Percent Of Its Employees

Resale exchange platform StockX confirmed Wednesday that it has laid off eight percent of its workforce, citing the impact of “macroeconomic challenges” on its web-based shoe resale business.

WizWheelz Acquires Recumbent Cycle-Con

WizWheelz, the parent company of TerraTrike and GreenSpeed, acquired Coyne Publishing, LLC, on June 24, 2022. The deal includes the Recumbent Cycle-Con (RCC) show

Running USA Elects Board Members

Running USA member representatives approved the election of five board members to three-year director terms, which begin July 1, 2022, and conclude June 30, 2025.

24 Hour Fitness Appoints CEO

24 Hour Fitness announced that Karl Sanft was appointed president and chief executive officer. Sanft has served as the company’s chief operating officer for the past three years. 

PHIT America Adds Board Member

PHIT America added Rita Mort, founding partner at Core Sports & Entertainment and Game Changers Worldwide, to its board.