New York-based fitness company SoulCycle is getting ready for an IPO, Reuters is reporting.
SoulCycle, which was founded in 2006 by Elisabeth Cutler and Julie Rice, has high-end gym Equinox Holdings as its majority owner, according to the report. It doesn’t look like Equinox would be part of the offering. But the Reuters report says Equinox revenue was around $US820 million for the 12 months ending last September.
From the Reuters story:
The review has been prompted by SoulCycle’s founders, who sold a majority stake in the chain to gym chain Equinox Holdings Inc in 2011 and are now evaluating ways to sell their remaining stake, the people said, asking not to be named because the matter is private.
The report emphasised that no final determination has been made — although, SoulCycle is already working with Goldman Sachs.
The company has locations in California and throughout the North- and Mid-Atlantic posted at its website, and plans to launch dozens more in the coming year, according to Reuters.