Soho House & Co. has signed a definitive agreement to go private in a deal that values the business at about $2.7 billion including debt. Public shareholders will receive $9.00 per share in cash, a 17.8% premium to the Aug. 15 close of $7.64.
The company said the transaction is led by MCR Hotels; shares jumped in early trading on the news.
Key facts
- Price: $9.00 per share in cash
- Valuation: ~$1.8B equity value; $2.7B including debt
- Premiums: 17.8% to Aug. 15 close; the same $9 price was ~83% above the Dec. 18, 2024 close when an earlier offer was disclosed
- Financing: Apollo Global Management to provide over $700M in equity and debt financing
- Sponsor: Investor group led by MCR Hotels and its Chair/CEO Tyler Morse
- Rollover: Ron Burkle (Yucaipa) expected to retain his stake
What’s new today
Reuters reports the company confirmed the deal and pricing, noting the stock rose about 15% pre-market after the announcement. The report also reiterates that a special committee began evaluating options in early 2024.
The Wall Street Journal earlier said the transaction values the equity at roughly $1.8B, based on more than 195 million shares outstanding, with Burkle expected to roll his stake and Apollo supplying $700M+ in financing.
A company release says an investor group led by MCR and Tyler Morse will acquire shares not held by certain significant holders.
Why go private now
Since listing in 2021 at $14, Soho House (NYSE: SHCO) has faced share-price swings and scrutiny of its expansion pace, costs, and consistency of service across clubs. Taking the company private removes quarterly earnings pressure and gives management and sponsors longer runway to reshape the footprint and the cost base.
Activist investor Dan Loeb and Third Point had pushed for a thorough process after the Dec. 19, 2024 $9-per-share approach, arguing that minority holders deserved the best available price.
What the business looks like today
Operationally, Soho House runs a global network of private members’ clubs, workspace, and lifestyle brands. As of June 29, 2025, the company reports 46 Soho Houses, 8 Soho Works, and Scorpios beach clubs in Mykonos and Bodrum. Total members stood at ~270,300, including ~213,600 Soho House members.
For FY2024, Soho House delivered $1.204B in revenue (+7% YoY) and $131.9M in adjusted EBITDA (+14% YoY), implying an EBITDA margin of roughly 11% on reported revenues.
