Tulchan Group and The One Nine Three Group are handling the IPO of London’s Membership Collective Group, owner of the Soho House private club network, which plans a listing on the New York Stock Exchange.
Launched in 1995, there are 28 Soho Houses in ten countries. The US Soho Houses are in Manhattan, Brooklyn, Miami, Chicago, Austin and Los Angeles.
Soho House has a global membership of 119K and boasts a 96 percent retention rate. It received more than 30K applications during fiscal 2020.
COVID-19 dealt a major blow to MCG's finances as the company lost $235M during the fiscal year ended January. It reported a $93M net loss during Q1 ended April 4 as revenues fell to $72M from $142M.
The company expects to rebound as widespread COVID-19 vaccinations bolster travel and dining demands.
Tulchan partner Jonathan Sibun, former deputy city editor for The Daily Telegraph, handles media in the UK for the IPO.
Zach Siegel, CEO of The One Nine Three Group, works the US media. He launched that financial/corporate communications shop in Nov. 2019 after a ten-year stint at Teneo.