NordicTrack Owner Icon Tops $7 Billion Valuation on New Funding

Icon Health & Fitness, a maker of exercise equipment and software, has raised $200 million from investors including L Catterton and current backer Pamplona Capital Management.

The owner of NordicTrack, ProForm and Freemotion brands, which also operates the on-demand streaming platform iFit, is profitable and posted revenue of more than $1 billion in the 12 months through September, the company said Monday. The latest round values Icon at more than $7 billion and is a precursor to a potential initial public offering within the next year, according to a person with knowledge of the matter.

“Health and fitness ...