The deal comes nearly five years after its IPO on the New York Stock Exchange in 2021, with investors including actor Ashton Kutcher, who will join the company’s board of directors.
Other investors include Goldman Sachs and Apollo Global Management. The deal entails a merger with EH Parent LLC and EH MergerSub Inc, and will see Soho House delist from the NYSE.
The deal was described as a “positive step” by CEO Andrew Carnie in an email to members.
“It gives us the freedom to focus on what Soho House has always been about: looking after our members, creating Houses you enjoy spending time in, and continuing to connect members in the world’s most inspiring cities….we have an exciting year and future ahead of us," he wrote.
“We’re investing in what made Soho House special from the beginning…there’s never been a better time to be a member.”
The take-private deal was led by Ron Burkle, who has been a majority shareholder of Soho House since 2012.
Earlier this month, the business revealed the deal was in jeopardy after a key investor pulled its funding commitment. However, Soho House secured $200m in alternative financing earlier this mointh to support the closing of the deal.