The San Francisco-based company, formerly known as Western Athletic Clubs, was acquired from York Capital Management and minority investors. The Bay Club Company, which markets itself as operating “urban sports resorts” and “lifestyle campuses” that “bridge the gap between fitness and hospitality,” acquired three California country clubs in the past two years.
Kohlberg, Kravis, Roberts & Co. (KKR) and The Bay Club Company announced the signing of a definitive agreement under which KKR will acquire Bay Club from York Capital Management and minority investors, including JMA Ventures and Roxborough Group. Financial details of the transaction were not disclosed.
York Capital Management acquired The Bay Club Company in 2014 from an affiliate of KSL Capital Partners, LLC. The San Francisco-based company, formerly known as Western Athletic Clubs, has marketed itself as operating “urban sports resorts” and “lifestyle campuses” that “bridge the gap between fitness and hospitality.”
The Bay Club acquired the California country clubs in the past years, including Fairbanks Ranch CC in Rancho Santa Fe, Calif. and The Golf Club at Boulder Ridge in San Jose, Calif. in 2016 and Manhattan Country Club in Manhattan Beach, Calif. in 2017.
The company describes its business model as “entering the realm of hospitality by grouping complementary properties into campuses and offering its members a range of high-end lifestyle amenities typically only found at country clubs and luxury resorts.”
“At Bay Club, we are proud to have created California’s leading active lifestyle community. In partnering with KKR, we are excited to build even further on what we’ve accomplished thus far and bring our unique offering to even more communities across the country,” said Matthew Stevens, President and CEO of Bay Club.
“Bay Club’s pioneering and differentiated model is one of the few scaled platforms in a large and highly fragmented health and wellness industry, where members can find options that meet all of their needs, and their families,” said Nate Taylor, Head of KKR’s Americas Consumer Retail team.
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