LeMond Fitness, the Woodinville, WA-based manufacturer of exercise and training bikes, is in the process of being sold, sources have told Club Industry.

Marty Smith, the interim CEO of LeMond Fitness, told Club Industry today he could neither confirm nor deny information about a possible sale of his company.

Smith, who has been interim CEO since May, took over for Mark Handfelt, who was appointed president, CEO and director of LeMond Fitness in March 2011. Smith would not comment on why Handfelt left the company.

LeMond Fitness was established in 2002 by Greg LeMond, the three-time winner of the Tour de France and a two-time world champion bicyclist.