M&A Deal Summary

KKR Acquires Bay Clubs

On July 26, 2018, private equity firm KKR acquired leisure company Bay Clubs from York Private Equity

Acquisition Highlights
  • This is KKR’s 6th transaction in the Leisure sector.
  • This is KKR’s 124th transaction in the United States.
  • This is KKR’s 26th transaction in California.

M&A Deal Summary

Date 2018-07-26
Target Bay Clubs
Sector Leisure
Buyer(s) KKR
Sellers(s) York Private Equity
Deal Type Secondary Buyout
Advisor(s) Morgan Stanley
North Point Advisors LLC (Financial)
Skadden, Arps, Slate, Meagher & Flom
Brownstein (Legal)

Target

Bay Clubs

San Francisco, California, United States
website
Bay Clubs is an operator of luxury health, fitness, and athletic sports club resorts on the West Coast, serving over 50,000 members. Bay Clubs was founded in 1977 and is based in San Francisco, California.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 279 of 428
Sector (Leisure) 6 of 7
Type (Secondary Buyout) 57 of 102
State (California) 26 of 41
Country (United States) 124 of 189
Year (2018) 22 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-25 Focus Financial Partners

New York, New York, United States

Focus Financial Partners is a partnership of independent, fiduciary wealth management firms. Focus provides superior access to best practices, resources, and continuity planning for its partner firms that serve individuals, families, employers, and institutions with wealth management, benefits consulting, and investment consulting services. Focus Financial Partners is based in New York City.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-30 Discovery Midstream

Dallas, Texas, United States

Discovery Midstream is a provider of oil and natural gas gathering and natural gas processing services in the southern portion of Colorado’s Denver-Julesburg Basin. Discovery Midstream is based in Dallas, Texas.

Buy $1.2B

Seller(S) 1

DESCRIPTION

York Private Equity is the direct investing arm of asset manager and hedge fund York Capital Management. York Private Equity looks to fund a variety of transaction situations including founders seeking liquidity, consolidations, recapitalizations, and corporate divestitures. Sectors of interest include consumer, business services, financial services, healthcare, and industrials. York Private Equity is based in New York City.


DEAL STATS #
Overall 1 of 1
Sector (Leisure) 1 of 1
Type (Secondary Buyout) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-09 Houlihan s Restaurants

Leawood, Kansas, United States

Houlihan's Restaurants, Inc. is an operates and franchises a system of restaurants specializing in high-quality, moderately-priced food and alcoholic beverages.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-03 F1 Payments

Austin, Texas, United States

F1 Payments a fintech company focused on increasing business velocity for all constituents in the payments ecosystem. F1 Payments delivers quick, secure, and easy-to-use payment services to financial agents, merchants, and institutions. F1 Payments is based in Austin, Texas.

Buy -