Private equity fund manager Pegasus Capital Advisors, Cos Cob, Connecticut, through one or more of its affiliates, has entered into a binding agreement to acquire the Bangkok-based ultra-luxury resort and spa business of Six Senses Resorts & Spas for an undisclosed sum.
Under the terms of the deal, Pegasus will acquire all of the Six Senses and Evason branded resort and spa management contracts and related intellectual property rights. It will operate the hotels under a new company managed by Pegasus and its affiliates.
The Soneva brand and resorts, as well as the company’s real estate assets and holdings, are not included in the transaction, and will continue to be led by Sonu Shivdasani, the former founder and CEO of Six Senses, who will serve as chairman and CEO and principal shareholder of The Soneva Group.
Bernhard Bohnenberger, currently the president of Six Senses, will be continuing in that role and heading the Six Senses’ Bangkok office.
“Six Senses is known around the world for providing a unique and innovative guest experience,” said Craig Cogut, founder, Pegasus Capital Advisors. “The brand has a great heritage, and we believe it is strongly positioned to grow. Going forward, the new Six Senses will be a debt-free company with committed capital for expansion into new and within existing international markets.”
Shivdasani said the transaction would allow him to focus on the development of hte Soneva portfolio. “This transaction will allow me to focus solely on the development of the Soneva portfolio of resorts and real estate assets, and allow the Soneva and Six Senses brands to flourish independently of each other,” said Shivdasani.
The transaction is expected to close within the next three months.
