Equinox is back at the bargaining table, exploring a SPAC merger with Ares Acquisition Corp to take the fitness operator public, according to Bloomberg.
- Equinox has 100 luxury health clubs globally and owns SoulCycle, Blink Fitness, and Equinox Hotels.
- Accelerating its digital efforts, including Equinox+ and the SoulCycle at-home bike, Equinox landed an investment from private equity firm Silver Lake in early 2020.
- The company lost $350M on $650M in revenue amid the pandemic.
Earlier this year, a potential deal with Chamath Palihapitiya’s Social Capital SPAC failed to materialize. Had it come to fruition, Equinox would have notched a $7.5B valuation.
For now, the Equinox/Ares deal remains in a preliminary stage. But, it’s not the only fitness listing to keep an eye on.