The luxury health club owner explores a SPAC merger.
Image: Equinox
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.
Publicly traded.Beachbody, Xponential Fitness, F45 Training, and Life Time have recently IPOed, joining Planet Fitness and Nautilus in the public markets.
We break down how fitness, wellness, and healthcare are converging — and what it means for business, culture, and capital.
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