Nautilis will sell its Pearl Izumi sports apparel segment to Shimano for $65.3 million and assume $4.2 million in debt. The sale comes after Nautilus reported disappointing earnings and after Nautilus lost a proxy battle in which New York turnaround firm Sherborne Investors LP won two director seats and Sherborne partner Edward Bramson became chairman of Nautilus.
Read more at VeloNews, Outside Online, Bike Biz.
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Wow this must have passed by without me even noticing. Thanks for the heads up! Let's hope that only good can come from this!
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