Soho House becomes private in an agreement of $ 2.7 billion while Ashton Kutcher joins the board of directors of the Chic Members club

Under the agreement, announced on August 18, MCR acquires all SOHO HOUSE actions in circulation at $ 9 per cash action, an 83% bonus during the action not allocated at the time of the offer. The transaction is supported by Apollo Management and Goldman Sachs alternative financial heavy goods vehicles, alongside an existing and new investor consortium. Ashton Kutcher, the leading player and technological investor, among the notable names joining the board of directors, appear on the board of directors, the actor and technological investor; And the CEO of MCR, Tyler Morse, which should become vice-president.

Longtime shareholders, including the executive president of Yucaipa Cos., Ron Burkle; The founder of Soho House Nick Jones; And investor Richard Caring will retain his equity interests, signaling continuity in terms of club leadership. The alternatives of Goldman Sachs, a donor since the IPO of Soho House, also engages more and more capital in the company.

The approval of shareholders and regulatory pending, the agreement should be concluded by the end of the year. Upon closing, Soho House’s shares will be struck off from the New York Stock Exchange, transforming the company into a private company.

Soho House: from Cool London Origin to global influence

Founded on the Greek street in London in 1995, Soho House quickly became a word for luxury, exclusivity and a dynamic creative scene. Clubs, which combine restaurants, hotels, gymnasiums, spas and workspaces, now cover 46 locations in 18 countries, alongside brands like NED and Scorpios Beach Club. Membership is coveted, club fees reaching thousands per year and an organized request process. In June, Soho House had more than 270,000 members and said $ 329.8 million in total quarter – an increase of 8.9% from one year to the next.

However, Soho House’s trip to public procurement has faced coherent opposite winds. Its shares in July 2021 at the price of the IPO at $ 14, but in mid-2010, shares had dropped to less than $ 9, reflecting more than a decrease of 30% as a profitability concerns and market volatility obtained the brand. Investors and analysts have cited the pressures of commercial models, high operational costs and slower expansion than there are reasons for dull performance.

Fortune Reported in May 2024, the company had lost money for each year since its foundation, and its rapid global expansion had left it substantial debt. The sellers uncovered, including glassware research, had called long -standing problems and compared it to WeWork. More recently, Soho House has undergone pressure from activist investor Dan Loeb and his fund, Third Point, who was pressure for a sales process for the chain.

CEO Andrew Carnie said Fortune At the time when he saw a plan of three to five years in advance, although a company spokesperson later said that Carnie did not put a delay on the way from Soho House to profitability, but rather on “the reorientation of the company in a holistic manner against our strategic priorities of growth and improvement of members and to operate effectively to develop in a profitable manner”.

Carnie has described the transaction as a vote of trust: “This reflects the strong conviction of our existing and incoming shareholders in the future of Soho House & Co., and the transformation that we have led since we have become a public company.”

In addition to preserving existing leadership, the acquisition should provide new capital, a know-how of hospitality and a sense of technology. MCR, which has more than 150 hotels around the world, including the TWA hotel at JFK airport and the High Line Hotel in New York – challenges operational expertise and an innovation experience. Investors hope that this support will support Soho House’s plans to open four new clubs and improve its technological platforms for members.

For this story, Fortune Used a generative AI to help an initial project. An editor checked the accuracy of the information before the publication.