Baird's Investment Banking Group is pleased to announce the following transaction:

September 2021
Wahoo Fitness
Investment from Rhône Group
Baird served as a co-advisor to Wahoo Fitness on this transaction

Wahoo Fitness (“Wahoo” or the “Company”), a portfolio company of Norwest Equity Partners (“NEP”), has received an equity investment from the Rhône Group (“Rhône”). The terms of the transaction were not disclosed.

Wahoo is a leading designer of connected fitness equipment. Wahoo Fitness offers a full ecosystem of sensors, devices and content for runners, cyclists, and fitness enthusiasts, with sales in over 130 countries. Wahoo’s award-winning line of products include the KICKR family of smart indoor riding equipment and accessories, the ELEMNT family of GPS devices and sport watches, the TICKR family of heart rate monitors, Speedplay dual-sided pedals as well as subscription-based digital content, tailored performance-tracking and training software through the SUF training app. The Company was founded in 2010 and is headquartered in Atlanta, Georgia.

Founded in 1961, NEP is a leading middle market investment firm with offices in Minneapolis, Minnesota and West Palm Beach, Florida. NEP invests equity capital in companies that are leaders in their industry with a proven business model which has demonstrated the ability to generate profits. NEP has extensive experience across a range of industries with management buyouts, recapitalizations and growth financings, including working with founder and family-owned companies.

Rhône, established in 1996, is a global private equity firm with a focus on investments in businesses with a transatlantic presence. Rhône’s investment philosophy includes the development of strong, strategic partnerships with the companies in which it invests. Rhône has a consistent history of successful corporate carve-out transactions and working with entrepreneur and family-led businesses, and operates across its London, New York and Madrid offices. Rhône has invested in a diversified portfolio of companies including investments in the business services, consumer, and industrial sectors.

For additional information about this transaction, please contact:

Joseph Pellegrini +1-704-553-6612
John Bastian +1-312-609-7067
Andrew Martin +1-704-553-6615
Maria Watts +1-312-609-4743
Todd Noffke +1-312-609-7006
Robert Foster +44-20-7667-8309