Equinox to Acquire the Assets of The Sports Club Company

Upscale Fitness and Lifestyle Leader Plans to Obtain Four Prestigious Properties in Los Angeles and New York City

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Aug 04, 2011, 03:15 ET

NEW YORK, Aug. 4, 2011 /PRNewswire/ -- Today, Equinox and The Sports Club Company, each a brand leader in the fitness and healthy lifestyle categories, have announced that Equinox plans to acquire the assets of The Sports Club Company and its four trophy The Sports Club/LA properties located in Los Angeles, Beverly Hills, Orange County and New York's Rockefeller Center. The Sports Club/LA clubs in Boston, Miami, San Francisco, New York on the Upper East Side and Washington D.C., as well as Reebok Sports Club/NY are not affected by this acquisition and continue to be owned and operated by Millennium Partners Sports Club Management as they have since 2006. With the addition of these four prestigious The Sports Club/LA properties, Equinox will operate 56 clubs in the top eight US markets.

Equinox and The Sports Club Company share similar visions of providing their members with a world-class fitness lifestyle experience. Both companies are known for their commitment to lifestyle, service, and fitness programming, and have a passionate following among dedicated upscale consumers. The companies' respective members have similar demographic and psychographic profiles and both foster fiercely loyal clientele who are passionate about their brands.

This planned acquisition will result in an expanded footprint in the two largest Equinox markets, New York and Los Angeles. The Sports Club Company has built a significant business by creating and fostering a service-driven company targeted at high-end and discerning clientele. Equinox will leverage its expertise in design, innovation, programming and operations to evolve The Sports Club Company offering while maintaining the strong service heritage of the brand.

"Equinox is excited to be acquiring these four prestigious clubs to further grow our portfolio of trophy properties in LA and New York," says Harvey Spevak, CEO, Equinox. "Since its inception 20 years ago, Equinox has been widely recognized for being an industry innovator and for delivering an unparalleled member experience. We see natural synergies as a result of this planned acquisition and are looking forward to integrating our two companies to better serve our respective members."

As part of the acquisition, Equinox will transition these clubs to the Equinox brand over the next six months and plans to enhance all four clubs with a multi-million dollar investment.

About Equinox

Equinox operates 52 upscale, full-service clubs in New York, Chicago, Los Angeles, San Francisco, Miami, Boston, Dallas and DC. The company offers an integrated selection of Equinox-branded programs, services and products, including strength and cardio training, group fitness classes, personal training, spa services and products, apparel and food/juice bars. Since its inception in 1991, Equinox has developed a lifestyle brand that represents service, value, quality, expertise, and innovation, attention to detail, market leadership and results.

In addition to the Equinox clubs, the company operates under the Pure Yoga, Blink and SoulCycle brands. The Pure Yoga brand operates two upscale, full-service yoga facilities in New York with over 100 classes a week led by world-renowned instructors, private yoga instruction and a series of workshops and community events. Blink launched in early 2011 and operates gyms with a simplified approach to fitness, by offering strength and cardio equipment in a friendly, clean and motivating environment at a low membership price point. In May 2011, Equinox entered into a strategic partnership with SoulCycle, the country's leading cycling operator renowned for a mental component of inspirational coaching, great music and a full-body workout. SoulCycle operates 8 locations including New York City, the Hamptons and Miami.

www.equinox.com.

About The Sports Club Company

Owned and operated by Michael Talla, Rex Licklider and Nanette Pattee Francini, with a team of highly skilled industry veterans, The Sports Club Company has been recognized worldwide for over three decades as the industry leader in luxury sports and fitness. Founded in 1979, the Company pioneered the "urban country club" concept, combining multiple sports and fitness options with the amenities, services and hospitality of a five-star resort. Coining the phrase "It's not just a health club, it's a lifestyle" and created to be the finest sports and fitness complex in the world, the Company's clubs set performance and quality standards by which all others are measured. The private club atmosphere along with the mantra "dedicated to enhancing our Members' lives," continues to draw the A-listers and celebrities of the communities the clubs serve. The Company's clubs are the Gold Standard of health clubs, winning virtually every health club award for quality, excellence and innovation, while garnering praise from publications around the globe, including the New York Times who proclaimed "to call this place a gym is like calling the Four Seasons a hostel" and New York Magazine who hailed the clubs as being "the purest expression of gymness ever built".

www.thesportsclubla.com

SOURCE Equinox