It seems like very time you look, a treadmill company is either going out of business or being bought up by another entity. In our 20 plus years at Run Reviews, we’ve seen dozens of companies go under and an equal number moving to new ownership. So we decided to keep a running list to help you keep track for yourself. We try to update it as often as possible, but some of this may have changed since our latest update.
Who owns NordicTrack & ProForm?
Both NordicTrack & ProForm are a part of iFIT Health & Fitness, iFIT also being the name of the subscription based workout program that you can access on their treadmills and other exercise equipment. Prior to 2021 the company was called ICON Health & Fitness, a name that they held since changing it from Weslo, Inc. in 1994. Freemotion Fitness is also owned by iFIT.
Who owns BowFlex?
BowFlex has gone through a number of changes over the years. They started as BowFlex of America in 1986, then BowFlex, Inc. in 1993, then Direct Focus, Inc. in 1998. The company then bought up Nautilus, Schwinn & Stairmaster, all very popular names in the fitness industry for a long time. In 2002 they again changed their name to the Nautilus Group, then Nautilus, Inc. In 2020 they changed the name once again, this time back to BowFlex, Inc.
As with most fitness brands sales took a dive post Covid when people were back at the gym and not buying as much new home gym equipment, and they declared Chapter 11 bankruptcy in 2024. They were then bought up by Johnson Health Tech.
Who owns Horizon Fitness & Matrix Fitness?
Both Horizon Fitness and Matrix Fitness are owned by Johnson Health Tech, a Taiwanese company that has become one of the biggest names in the fitness industry.
Johnson has been around since 1975 and has quietly built up an impressive portfolio of brands. Horizon is their consumer focused brand, offering treadmills, ellipticals and exercise bikes for home use, while Matrix is aimed more at the commercial market and is commonly found in gyms, hotels and fitness centers.
In 2024, Johnson Health Tech also acquired BowFlex following the company’s bankruptcy proceedings, adding yet another recognizable fitness name to their growing list of brands.
Who owns Sole Fitness?
Sole treadmills are owned by Dyaco International, a Taiwanese company that acquired them in 2020. Dyaco also owns Spirit and XTERRA, two entry level cardio equipment brands.
Who owns Peloton?
Unlike many of the other companies on this list, Peloton is still an independent publicly traded company.
Peloton was founded in 2012 and exploded in popularity during the Covid pandemic as millions of people looked for ways to work out from home. Sales have slowed considerably since those peak years, but Peloton remains one of the most recognizable names in connected fitness.
At least for now, Peloton has managed to remain independent despite constant rumors over the years about possible acquisitions from larger companies.
Who owns Precor?
Precor is owned by Peloton.
Peloton acquired Precor in late 2020 for approximately $420 million, largely to gain access to Precor’s manufacturing capabilities and commercial fitness relationships.
Precor has been one of the most respected names in commercial fitness equipment for decades and is commonly found in health clubs, hotels and apartment fitness centers throughout the world.
Who owns TRUE Fitness?
TRUE Fitness remains privately owned and independent.
The company has been around since 1981 and has long been known for producing premium residential and commercial fitness equipment.
While they don’t receive the same level of attention as brands like NordicTrack or Peloton, TRUE has built a very solid reputation within the industry and continues to be a popular option among serious treadmill users.
Who owns Life Fitness?
Life Fitness started off with exercise bikes back in 1968, and was incorporated as Lifecycle, Inc. in 1977. The company was sold to Bally Total Fitness in 1984 and renamed Life Fitness, Inc. Bally resold Life Fitness to Mancuso & Company, a private equity firm, and it was acquired by Brunswick Corporation in 1997. Life Fitness subsequently purchased Hammer Strength, ParaBody & Cybex. In 2019, Brunswick sold Life Fitness to KPS Capital Partners, who owns them today.
Who owns XTERRA Fitness?
XTERRA Fitness is owned by Dyaco International, the same company that owns Sole and Spirit Fitness.
XTERRA generally focuses on more affordable home fitness equipment, with many of their treadmills positioned in the entry level and mid-range categories.
It’s interesting to see how many treadmill brands are actually owned by the same parent company once you start digging into the industry.
Who owns Spirit Fitness?
Spirit Fitness is another brand owned by Dyaco International.
Spirit has traditionally focused on higher end residential and light commercial equipment and has built a reputation for durable machines and strong warranties.
If you’ve ever looked at a Sole treadmill and thought it looked somewhat familiar, that’s because there are many similarities between Sole and Spirit products due to their shared ownership.
Who owns Landice?
Landice remains one of the few major treadmill companies that is still independently owned.
The company was founded back in 1967 and continues to manufacture premium treadmills in the United States.
Landice has developed an extremely loyal following over the years, particularly among walkers and runners looking for a heavy duty treadmill with a strong warranty and long life expectancy.
Who owns Sunny Health & Fitness?
Sunny Health & Fitness remains independently owned.
Over the past several years the company has become one of the largest sellers of affordable fitness equipment online, particularly through Amazon and other major retailers.
While they may not have the same history as some of the legacy fitness brands, Sunny has become an increasingly important player in the home fitness market.
As you can see, many treadmill companies that appear to be competitors are actually owned by the same parent organizations. Johnson Health Tech, Dyaco and iFIT in particular control a surprisingly large portion of the home fitness market.
Following is a table of all of the popular brands and what company owns them for easy reference…
| Owner | Brands |
|---|---|
| iFIT Health & Fitness | NordicTrack, ProForm, Freemotion |
| Johnson Health Tech | BowFlex, Horizon, Matrix, Vision, Schwinn |
| Dyaco International | Sole Fitness, Spirit, XTERRA |
| KPS Capital Partners | Life Fitness, Cybex |
| TRUE Fitness | TRUE, Octane |
| Stamina Products | Stamina, AeroPilates |
| Peloton Interactive | Peloton, Precor |
| Sunny Health & Fitness | Sunny Health & Fitness |
| Landice | Landice |
