Equinox announced it has 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.
The transaction, which provides Equinox with significant liquidity, was led by Sixth Street, a new investor in Equinox and Silver Lake. It also included investments from Ares Management, HPS Investment Partners, L Catterton, and the principals of the Related Companies.
The strategic investments in Equinox come following a 27% increase in revenue in 2023 for the company. In 2023, member engagement was also higher than any previous year on record. Equinox currently operates 107 clubs globally and has a current pipeline of over 25 new locations across various major markets. The company continues to explore additional opportunities in existing and new markets, both domestic and international.
“We’re seeing record performance in revenue growth and member engagement, which demonstrates our position as the global leader in high performance luxury lifestyle,” said Harvey Spevak, the executive chairman and managing partner of Equinox Group. “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 announced the company 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.
