Luxury living and fitness company Equinox Group secured approximately $1.8 billion in new capital to refinance maturing loans as well as to fund general corporate purposes and growth, including new clubs.
Sixth Street led the transaction as a new investor along with Silver Lake. The transaction also included investments from Ares Management, HPS Investment Partners, L Catterton and the principals of the related companies.
The strategic investments in Equinox come followed a 27% increase in revenue in 2023 for the company. In 2023, the company said member engagement was also higher than any previous year on record. Equinox currently operates 107 clubs globally and has a current pipeline of more than 25 new locations across various markets.
“We are seeing record performance in revenue growth and member engagement, which demonstrates our position as the global leader in high performance luxury lifestyle,” Harvey Spevak, executive chairman and managing partner of Equinox, said. “These new strategic investments from a group of world-class partners that share our vision for the Equinox brand will empower us to accelerate further growth through new club openings and new innovative offerings, as well as by scaling the Equinox luxury experience.”
In addition to the refinancing of the maturing loans, Equinox also secured a new revolving credit facility from Goldman Sachs, Morgan Stanley and J.P. Morgan.
Equinox was advised on the transaction by Centerview Partners, Goldman Sachs and Kirkland & Ellis.
