M&A Deal Summary

L Catterton Partners, Silver Lake and The Related Companies Acquire Equinox Fitness

On December 5, 2005, growth capital firm L Catterton Partners, private equity firm Silver Lake and The Related Companies acquired consumer services company Equinox Fitness from North Castle Partners

Acquisition Highlights
  • This is L Catterton Partners’ 1st, Silver Lake’s 1st and The Related Companies’ 1st transaction in the Consumer Services sector.
  • This is L Catterton Partners’ 24th, Silver Lake’s 11th and The Related Companies’ 1st transaction in the United States.
  • This is L Catterton Partners’ 4th, Silver Lake’s 1st and The Related Companies’ 1st transaction in New York.

M&A Deal Summary
Date 2005-12-05
Target Equinox Fitness
Sector Consumer Services
Buyer(s) L Catterton Partners
Silver Lake
The Related Companies
Sellers(s) North Castle Partners
Deal Type Add-on Acquisition

Target

Equinox Fitness

New York, New York, United States
Equinox Fitness is an operator of full-service high end fitness clubs, operating 50 clubs and yoga studios in eight metropolitan areas across the country. As an internationally recognized arbiter of luxury, Equinox offers members unparalleled, bespoke experiences in the fields of movement, nutrition and regeneration, and remains grounded by substance but elevated in style. Equinox Fitness is based in New York City.

Search 202,137 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 3

Buyer

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1989
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 25 of 221
Sector (Consumer Services) 1 of 15
Type (Add-on Acquisition) 1 of 2
State (New York) 4 of 26
Country (United States) 24 of 133
Year (2005) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-25 Titan Outdoor Holdings

Seattle, Washington, United States

Titan Outdoor Holdings, Inc. is a full-service outdoor advertising company providing marketing, media sales and maintenance of public pay telephone kiosks ("PPTs"), billboards and vinyl wall wraps in the New York metropolitan area.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 TechTurn

Austin, Texas, United States

TechTurn Ltd. is a provider of electronics asset disposition (EAD) services that specializes in the processing and sale of technology devices that are returned or recycled from businesses and consumers.

Buy -
Buyer

Silver Lake

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 104.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Silver Lake is a mega-sized private equity firm focused on a broad range of growth investments in and acquisitions of technology companies. Silver Lake is subdivided into several investing groups including Silver Lake Partners, Silver Lake Sumeru, Silver Lake Waterman, Silver Lake Alpine, and Silver Lake Kraftwerk. Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. Silver Lake Sumeru invests in middle market technology companies with established business models and attractive growth prospects where there is an opportunity to create value through operational transformation. Silver Lake Waterman provides growth capital to later-stage companies in the technology and technology-enabled industries, offering flexible solutions to finance expansion and acquisitions. Silver Lake Alpine is Silver Lake's debt and credit investing arm. Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries. Silver Lake Partners was formed in 1999 is headquartered in Menlo Park, California.

DEAL STATS #
Overall 13 of 135
Sector (Consumer Services) 1 of 4
Type (Add-on Acquisition) 1 of 4
State (New York) 1 of 8
Country (United States) 11 of 95
Year (2005) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-11 Serena

Redwood City, California, United States

Serena is a provider of enterprise application lifecycle management software. Serena is one of the largest independent ALM vendors and the only one that orchestrates DevOps, the processes that bring together application development and operations. Serena was formed in 1980 and is based in Redwood City, California.

Buy $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-16 Enterasys Networks

Andover, Massachusetts, United States

Enterasys Networks is a provider of Secure Networks for enterprise customers. Enterasys' innovative network infrastructure offerings deliver the security, productivity and adaptability benefits required by Global 2000 organizations, coupled with the industry's strongest service and support.

Buy $386M
Buyer

The Related Companies

New York, New York, United States
Category Company
Sector Real Estate
Employees3,500
DESCRIPTION

Related Companies is a US-based, privately-owned real estate firm. Related is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi and London, and boasts a team of over 3,500 professionals.

DEAL STATS #
Overall 1 of 2
Sector (Consumer Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (New York) 1 of 2
Country (United States) 1 of 2
Year (2005) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-23 CORE NYC

New York, New York, United States

CORE is a boutique real estate brokerage firm in New York City. Founded in 2005, CORE's mission is to create an innovative real estate company offering the best-in-class service to its agents, buyers, sellers and developers.

Buy -

Seller(S) 1

SELLER

North Castle Partners

Greenwich, Connecticut, United States

Investor

Category Private Equity Firm
Founded 1997
Size Middle-Market
Type Sector Focused
DESCRIPTION

North Castle Partners is a specialist private equity firm that targets investments in consumer-driven product and service businesses. North Castle seeks control investments in companies that benefit from consumers looking to live 'healthier' lives as well as businesses that benefit from the baby boomer population. Specific areas of interest include aesthetics and personal care, consumer health, fitness and recreation, home and leisure, and nutrition. North Castle was formed in 1997 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 4 of 25
Sector (Consumer Services) 1 of 5
Type (Add-on Acquisition) 2 of 15
State (New York) 1 of 2
Country (United States) 3 of 23
Year (2005) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-13 CRC Health

Cupertino, California, United States

CRC Health Group is a provider of treatment and educational programs for addiction and related behavioral health disorders.

Sell $720M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-08 Grand Expeditions

Clearwater, Florida, United States

North Castle created Grand Expeditions to build a leading supplier of luxury and adventure travel through the consolidation of select 'best in class' companies in the high-end segment of the tour operator industry. GEI completed eight acquisitions under North Castle's ownership. North Castle supported GEI through the tragic events of September 11th and rebuilt the company to a profitable and stable enterprise.

Sell -
Mergr

Product

Company

Legal