Soho House & Co Inc. is transitioning to private ownership with a $2.7 billion deal. MCR Hotels, led by Tyler Morse, will acquire the company, paying $9.00 per share, an 83% premium above the last closing price. Despite the change, Ron Burkle's Yucaipa Companies retains majority control, ensuring continuity. MCR's portfolio reflects an emphasis on operational excellence and cultural relevance. Apollo Funds will finance the transaction, allowing Soho House to refinance existing debts and adopt a more agile operational model.
"Soho House & Co Inc. is set to go private again in a $2.7 billion deal, exiting public markets and entering a new growth phase under private ownership."
"A group of investors led by MCR Hotels will acquire all outstanding public shares, paying $9.00 per share, translating to an 83% premium on the recent closing price."
"MCR Hotels, known for blending architectural heritage with luxury experiences, signals serious commitment to operational excellence and cultural relevance in Soho House."
"Tyler Morse emphasizes MCR's commitment to align with Soho House's DNA, safeguarding member experience while pushing for thoughtful international growth."
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