Equinox Group Draws SPAC Interest After $350 Million 2020 Loss

April 1, 2021, 10:59 PM

Equinox Group is fielding interest from blank-check firms that would take the company public after it lost around $350 million last year amid the pandemic, according to people with knowledge of the matter.

Despite the loss, the gym chain has started to solicit interest from suitors including special purpose acquisition companies that value Equinox, including its SoulCycle entity and other brands, at $7 billion or more, said the people, who asked not to be named discussing private results.

A cleaner sanitizes gym equipment at an Equinox gym in California.
Photographer: Amanda Edwards/Getty Images

Equinox Group’s consolidated revenue was around $650 million last year, the people said. Cash at gym unit Equinox Holdings was $50 ...

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