Steiner Leisure to enter merger with private equity firm for US$925m
by Helen Andrews | 25 Aug 2015
Leonard Fluxman, president and CEO of Steiner Leisure, with his wife Patricia / Beth David Congregation
Steiner Leisure has signed a definitive merger agreement under which an affiliate of private equity firm Catterton will acquire all of the outstanding shares of Steiner for US$65 (€56, £41) per share in cash. The total transaction value, including assumed net debt, is approximately US$925m (€799m, £599m).
Steiner Leisure’s board of directors unanimously approved the merger on the recommendation of a special committee, comprised entirely of independent directors. The committee said in a statement: “Our board has been committed to maximising value for our shareholders and we believe that this all-cash transaction with Catterton accomplishes that goal.”
The transaction is expected to close in the fourth quarter of 2015 or in early 2016.
Leonard Fluxman, president and CEO of Steiner Leisure, said: “This transaction will provide Steiner Leisure with greater flexibility to focus on our long-term business initiatives and to improve our role as a global provider and innovator in beauty, wellness and education. Catterton’s partnership is an important endorsement of our brands and the hard work and commitment of our team.
Catterton is a consumer-focused private equity firm with more than US$4bn (€3.5bn, £2.5bn) currently under management and a background in building high growth companies.
Steiner Leisure Limited is a worldwide provider and innovator in the fields of beauty, wellness and education.
Steiner services include traditional and alternative massage, body and skin treatment options, fitness, acupuncture, herbal medicine, and medi-spa treatments. Steiner provides its customers with a wide-ranging assortment of premium skin, body and hair care products under the Elemis, La Thérapie, Bliss, Remède, Laboratoire Remède and Jou brands. Its products are distributed through over 200 Steiner-operated day spas, resorts and spas-at-sea under its Elemis, Mandara, Chavana, Bliss and Remède brands.
Steiner is also an accredited educator, teaching students the skills necessary to be a spa professional, including massage and skincare services.
12 May 2015
Steiner's Jeff Matthews: Making a spa consultancy work is a complex process
19 Mar 2015
Chavana Spa opens at Chaaya Reef Ellaidhoo in the Maldives
06 Mar 2015
Jeff Matthews of Steiner Spa Consulting reveals designs of future spa projects
03 Mar 2015
Chavana Spa launches at DoubleTree by Hilton Moscow - Marina
30 Jul 2014
Steiner extends spa operations contract with Windstar Cruises
21 Jan 2014
Hilton and Steiner team up in Moscow
20 Jan 2014
Steiner tips top 2014 spa investment destinations
28 Nov 2013
Steiner to manage spa at DoubleTree in Moscow
Steiner Leisure has signed a definitive merger agreement under which an affiliate of private equity firm Catterton will acquire all of the outstanding shares of Steiner for US$65 (€56, £41) per share in cash. The total transaction value, including assumed net debt, is approximately US$925m (€799m, £599m). Steiner Leisure’s board of directors unanimously approved the merger on the recommendation of a special committee, comprised entirely of independent directors. The committee
CLD,SAB,CPW,TOU,TVL,PRO,DEV,INV,PHR,CON
More news
BIG's designs Prague concert hall to be vibrant centre of life
by Tom Walker | 18 May 2022
Bjarke Ingels Group (BIG) have been selected as the architect for the Vltava Philharmonic Hall in Prague, Czech Republic. The first national concert hall to be built in the country in 100 years, the venue will be the home of the famous Prague Symphony Orchestra and will have an audience capacity of more than 1,800. BIG – which won an international competition between 19 other architectural practices to secure the
Mather & Co-designed Gretna Green Experience opens to the public
by Tom Walker | 10 May 2022
A visitor attraction celebrating the history of the Scottish parish of Gretna Green – and its heritage as a destination for 'runaway marriages – has opened to the public. Gretna Green, located just inside Scotland on the border with England, first became famous for its weddings nearly 260 years ago, following the Clandestine Marriages Act 1753. The act prevented couples under the age of 21 from marrying in England or
Project to save last major bellfoundry which cast bells for St Paul's and Washington National Cathedral
by Tom Walker | 28 Apr 2022
A project to save the UK's last major bellfoundry has moved to the next stage, with the launch of a tender to find contractors for the redevelopment work. The Loughborough Bellfoundry was built in 1859 and has since cast and sent 25,000 bells to more than 100 countries. Bells made at the foundry can be found at some of the world's most iconic buildings, including London’s St Paul’s Cathedral, the
Perkins & Will reveals designs for net-zero sports and cultural centre in Toronto
by Tom Walker | 28 Apr 2022
Global design practice Perkins & Will has unveiled plans for a net-zero operational carbon community sports centre, health club and cultural hub in Toronto, Canada. A first-of-its-kind for Ontario, the multi-purpose centre is set to achieve net-zero status through energy-efficient design and renewable energy systems, while adding much-needed facilities for the local community. Called North East Scarborough Community and Child Care Centre, the building has three levels. The lower level
World’s first living waterslides announced for Therme Manchester
by Tom Walker | 25 Apr 2022
Therme Manchester – the £250m indoor ‘next generation’ waterpark, thermal bathing and a wellbeing spa, opening in 2025 – will include the world's first "living waterslides". The waterslides are part of the resort's focus on biophilic design and will feature 3D-printed structures housing thousands of biodiverse plants. Thanks to their design, the slides will be made to look like tree trunks, with plants growing out of them. Due to its
Heatherwick reveals Volcano-inspired opera house designs for Hainan
by Tom Walker | 13 Apr 2022
Heatherwick Studio has revealed its designs for an opera house and performing arts centre for the island province of Hainan in China. The architects were chosen for the project by Haikou Tourism & Culture Investment Holding Group, which wants to develop the building as the anchor for a new cultural quarter in the island’s capital, Haikou. The as-yet-unnamed cultural complex will house three performance spaces – an opera house, a
Natural history museum planned for Abu Dhabi
by Tom Walker | 06 Apr 2022
A new natural history museum in Abu Dhabi will take visitors on a 13.8-billion-year journey through time and space. Called the Abu Dhabi Natural History Museum and set to open in 2025, the museum will be located on Saadiyat Island, in the Saadiyat Cultural District. The project was officially unveiled by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, member of the Abu Dhabi Executive Council and chairman of the
Controversial London music venue, MSG Sphere, gets full planning permission
by Liz Terry | 06 Apr 2022
The MSG Sphere, a controversial auditorium and music globe designed by Populous, has been given full planning permission by the London Legacy Development Corporation (LLDC). If built, the Sphere would tower 90m above Stratford, London, and in addition to the auditorium, would include a nightclub, bars, restaurants, cafés, shops and parking. The sphere would boast the “largest and highest resolution LED screen in the world” – in the form of
Clifford's Tower opens to the public after £5m redevelopment
by Tom Walker | 06 Apr 2022
Clifford’s Tower in York, considered one of England’s most important buildings, has opened to the public following a £5m redevelopment. The structure is all that remains of York Castle, which was built on the orders of William I and once dominated the former Viking city of Jórvík. While the landmark has played a crucial role in English history during its 800-year-old history, it had been pretty much an empty shell
Clifford's Tower opens to the public after £5m redevelopment
by Tom Walker | 06 Apr 2022
Clifford’s Tower in York, considered one of England’s most important buildings, has opened to the public following a £5m redevelopment. The structure is all that remains of York Castle, which was built on the orders of William I and once dominated the former Viking city of Jórvík. While the landmark has played a crucial role in English history during its 800-year-old history, it had been pretty much an empty shell
Glasgow's iconic Burrell Collection reopens after five-year, £68.5m revamp
by Tom Walker | 05 Apr 2022
The Burrell Collection in Glasgow, UK has reopened following a £68.25m refurbishment which took five years to complete. Exhibiting objects from Europe and Asia, the vast collection was donated to the city and people of Glasgow by art collector Sir William Burrell in 1944. A museum housing the collection, which includes more than 9,000 objects, was then built and opened in Pollok Park in 1983. The collection holds items from
SB Architects delivers Ritz-Carlton Reserve in Costa Rica with tree-house spa and private residences
by Megan Whitby | 21 Mar 2022
The first Ritz-Carlton location in Costa Rica will launch in 2024, situated within the 1,400-acre private club and resort community Peninsula Papagayo. Hospitality specialists SB Architects are behind the design, with spa and wellness consultancy Blu Spas helping create programming, project design and concept for the wellness areas. Located in Guanacaste, Peninsula Papagayo sits on the north Pacific coast of Costa Rica, deemed to be one of the most biodiverse
Ole Scheeren designs vertical jungle resort complex in China
by Megan Whitby | 16 Mar 2022
German architect Ole Scheeren has won a design competition for his vision for a tropical resort complex in the beachfront city of Sanya, on the Chinese island of Hainan. Scheduled to open in 2026, Sanya Horizons has been designed for developer CDF Investment & Development and will be sited on 83,500sq m of lush beachfront property. The property will consist of two hotels under IHG luxury brands – The Regent
Designer Brian d’Souza launches Swell to create evocative soundscapes for physical environments
by Megan Whitby | 16 Mar 2022
Music psychology specialist, Brian d’Souza, has launched a sound wellness business to offer transformative sound experiences to the hospitality, wellness and spa industries. Called Swell, the company delivers bespoke solutions combining field recording, music composition, nature and sound therapy to improve relaxation while promoting positive listening habits for deep relaxation. d'Souza says the traditional linear listening experience can result in 'listener fatigue' if guests and staff hear the same music
Basalt Architects create geothermal Forest Lagoon in the wilds of Iceland
by Megan Whitby | 23 Feb 2022
A new geothermal forest spa called Forest Lagoon will launch in April near Akureyri, in Northern Iceland, with design by Basalt Architects – the creative driving force behind Iceland’s iconic Blue Lagoon. The story behind Forest Lagoon began in 2014 when workers digging inside the Vaðlaheiðargöng heath – for an unrelated project – discovered a geothermal hot water spring. This water source will serve as the beating heart of the
Hot Pickle design £73m Guinness visitor attraction for Diageo in London
by Tom Walker | 14 Feb 2022
Brewing giant Diageo has revealed plans to create a Guinness-themed cultural hub and microbrewery in London, UK, with design by London-based agency, Hot Pickle. Called Guinness at Old Brewer’s Yard, the visitor attraction is set to open in London’s Covent Garden in Autumn 2023. Located on a historic brewing site – the Old Brewer's Yard was the site of beer brewing as far back as 1722 – the £73m development
Amsterdam's new digital art centre Fabrique des Lumières will use tech to bring art alive
by Tom Walker | 06 Feb 2022
Culturespaces has announced that its new digital art centre, Fabrique des Lumières, will open in Amsterdam on 22 April 2022. Located in the historic former gas plant of Westergasfabriek – built in 1885 by the Imperial Continental Gas Association – the cultural attraction will use "cutting-edge technology" to create immersive exhibitions devoted to some of the most celebrated figures in art history. The venue has a total surface area of
Pharrell Williams to launch tropical Bahamian beach resort
by Megan Whitby | 26 Jan 2022
Multi-Grammy award-winning musician and entrepreneur Pharrell Williams is creating a beachfront resort in The Bahamas in partnership with Miami Beach-based hospitality entrepreneur David Grutman. Named Somewhere Else, the project marks the duo’s third hospitality project. Their portfolio already includes an indoor-outdoor dining concept, called Swan, as well as the Goodtime Hotel, both of which are based in Miami. The upcoming beachfront resort will open in January 2024 on the Bahamas’
Banyan Tree curating solar-powered wellness retreat on private Mozambican island
by Megan Whitby | 25 Jan 2022
Two Asian-inspired wellness sanctuaries crafted by Banyan Tree will open on luxury private islands off the coast of Mozambique in Q4 2022. The first, a signature Banyan Tree spa, will open at Banyan Tree Ilha Caldeira – a new private island getaway. The resort will be joined by a sister island named Banyan Tree Veya Ilha Nejovo, dedicated to wellness and wellbeing. This adults-only 20-villa wellness destination will be located
Dubai Expo hits 10 million visits
by Tom Walker | 25 Jan 2022
The number of registered visitors to Dubai's Expo 2020 has passed 10 million. Expo 2020, which was, as the name suggests, originally scheduled for 2020 but had to be moved due to the pandemic, is the largest major global event to be held since the start of the COVID-19 outbreak. In addition to physical visits, the Expo's digital platform had seen 37 million visits by 27 December 2021. The Expo
Foster + Partners designs Dorchester Collection's first hotel in Middle East
by Megan Whitby | 06 Jan 2022
Hotel group Dorchester Collection and real estate development group Omniyat have joined forces to create a new luxury hotel named The Lana. The 225-room destination will open in Q4 2022 in Dubai’s Burj Khalifa district inside a 30-storey tower designed by architecture firm Foster + Partners. Situated next to the Dubai Creek and Marasi Marina, The Lana will mark the Dorchester Collection’s debut location in the Middle East. Parisian interior
Neil Jacobs reveals Six Senses Places concept for major cities
by Megan Whitby | 04 Jan 2022
Global hotel and spa operator Six Senses is incubating the launch of a new global wellness concept called Six Senses Place. CEO Neil Jacobs and his team have indicated that new ‘clubs’ could potentially open at urban Six Senses properties in New York – where the company is busy on a property designed by Bjarke Ingels Group – as well as London, Bangkok, Shanghai, the Loire Valley, Istanbul, Rome and Lisbon.
Orient Express returns to Italy after 46 years with six trains designed by Dimorestudio and new Rome hotel
by Tom Walker | 22 Dec 2021
The iconic Orient Express luxury train is set to return to Italy following a hiatus of 46 years. The new Orient Express La Dolce Vita service will welcome passengers from 2023, with six trains embarking through itineraries across 14 regions – including three international journeys from Rome to Paris, Istanbul and Split (Croatia). Orient Express – which is owned by French hotel giant Accor Group – will work in partnership
400-year-old mineral spring will power Preidlhof’s €2m medicinal bath experience
by Megan Whitby | 10 Dec 2021
Destination spa and health resort Preidlhof in Naturno, South Tyrol, will open a new medicinal bathing facility later this month, following a five-year development programme. Costing €2m (US$2.26m, £1.7m), the new hydrotherapy experience will include an 80sq m indoor pool and a number of private whirlpool baths. The main pool is a retrofit of an existing swimming pool tank, which has been excavated and rebuilt to accommodate the specialist pipework
Universal Beijing Resort reveals expansion plans for second phase
by Tom Walker | 10 Dec 2021
Universal Beijing Resort in China is preparing to embark on the second phase of its construction programme. The project will add around 2.2sq km to the total park area and will include up to five new hotels. This means the second phase will more than double the current size of the 1.8sq km park. The announcement comes less than three months after the park opened its doors to the public,
Pop-up stadium built with shipping containers opens ahead of 2022 World Cup
by Tom Walker | 30 Nov 2021
A fully demountable stadium, designed by Fenwick Iribarren Architects and built from shipping containers, is now open and ready to host games during the FIFA 2022 World Cup. Called Stadium 974, the innovative design has been inspired by Qatar’s worldwide trade and seafaring. The name comes from 974 being the international dialling code for Qatar, as well as the exact number of shipping containers used in construction. Located across the
Playfulness will inspire Serenbe’s new wellness community, Spela
by Megan Whitby | 29 Nov 2021
Georgia-based wellness community, Serenbe, is getting a new wellness community dedicated to play, co-founder Steve Nygren, has told CLAD. Named Spela – which means play in Swedish – the new community will open in 2023 and become Serenbe's fifth hamlet. With groundwork in the early stages, Nygren reveals that plans include a four-acre park designed with both kids and adults in mind. The park will sit on a steep hillside
John McAslan + Partners-designed M7 cultural hub and museum opens in Doha
by Tom Walker | 23 Nov 2021
A new creative hub in Doha looks to position itself as the new heart of Qatar’s fashion and design industry – as well as a public showcase for innovation and entrepreneurship in the region. The M7 Design and Cultural Hub, designed by John McAslan + Partners, is the architectural anchor of the 31-hectare Msheireb mixed-use development. Established by Qatar Museums, under the leadership of Sheikha Al Mayassa bint Hamad bin
LPO Architects and GrecoDeco create vast subterranean wellness retreat for Oslo
by Megan Whitby | 19 Nov 2021
Nordic Hotels & Resorts is creating an urban wellness retreat in Norway’s capital city of Oslo as part of its 231-room hotel project. Owned by Norwegian hotelier Petter Stordalen, the luxury destination will be named Sommerro and welcome guests in the city’s Frogner neighbourhood as of September 2022. Sommerro will be housed in a restored 1930s building – formerly the headquarters of the city’s original electrical company – and encompass
Herzog and de Meuron’s M+ museum of visual culture distils essence of Hong Kong
by Tom Walker | 17 Nov 2021
M+, described as Asia’s first global museum of contemporary visual culture, has opened in Hong Kong. Located in the city state's West Kowloon Cultural District, the museum features six thematic exhibitions housing more than 1,000 works. Designed by architects Herzog and de Meuron, M+ will act as a cultural centre for 20th and 21st-century art, design, architecture, and the moving image. As well as the 33 exhibition galleries, the complex
company profile
Try cladmag for free!
Sign up with CLAD to receive our regular ezine, instant news alerts, free digital subscriptions to CLADweek, CLADmag and CLADbook and to request a free sample of the next issue of CLADmag.
sign up
features
Catalogue Gallery
Click on a catalogue to view it online
To advertise in our catalogue gallery: call +44(0)1462 431385
features
"Funding woes and murky timelines are common problems. It can be easier to make a difference one small project at a time"
From parks designed to mitigate the effects of flooding to warming huts for one of the world’s coldest cities, these projects have been designed for increasingly extreme climates
From parks designed to mitigate the effects of flooding to warming huts for one of the world’s coldest cities, these projects have been designed for increasingly extreme climates
features
cladkit product news
The dome aims to integrate technology with arts and culture
Christie® GS Series 1DLP® laser projectors are delivering vivid and lifelike visuals in a new dome theatre located in Xiong’an
...
The design of the columns was inspired by the sea
After a two-year renovation, Oakland-based metal experts Móz Designs have unveiled their inclusion in Georgia Aquarium’s new shark gallery. Located
...
cladkit product news
Jaffe Holden provided architectural acoustics for the Academy Museum
Acoustical consulting firm Jaffe Holden provided architectural acoustics and audio/video design services for the recently opened Academy Museum of Motion
...
The new Experience Centre houses a 20m LED dome
Cosm, a global technology company that builds end-to-end solutions for immersive experiences, has unveiled its Experience Centre which houses a
...
cladkit product news
Almost 300 drones were used to signal an environmental message above the Eden Project’s biomes, during the UN Climate Change
...
Alemanno believes the stones are well-placed in the spa environment thanks to their capacity to positively support physical and mental health
Fabio Alemanno Design has expanded its collection with semi-precious stones to enhance spas, wellness facilities, hotels and private residences. The
...
