EMPLOYERS: POST A JOB
Free ezines & magazines
Jobs News Video Training Products Magazine Spa Business spa-kit Handbook What's on Advertise Subscribe
Catalogue gallery
More catalogues
Diary dates
Powered by leisurediary.com
16-17 Jul 2020
Naman Resort, Da Nang, Vietnam
03-05 Aug 2020
Raffles City Convention Centre, Singapore
04-06 Aug 2020
China Import & Export Fair Complex, Guangzhou, China
05 Aug 2020
Raffles City Convention Centre, Singapore
16-19 Aug 2020
Ritz-Carlton, Miami, United States
17-19 Aug 2020
Dubai World Trade Center, Dubai, United Arab Emirates
23-24 Aug 2020
Long Beach Convention Center , Long Beach, United States
02-04 Sep 2020
Bombay Exhibition Centre, Mumbai, India
On-board spa operator, One Spa World, gets cash injection from L Catterton
By Megan Whitby 07 May 2020
The agreement will see OSW sell US$75m (£59.8m, €68.4) in common equity and warrants to Steiner Leisure
Cruise ship and resort operator, One Spa World (OSW), has struck a rescue deal with private equity firm, L Catterton for financial pandemic assistance.

The agreement will see OSW sell US$75m (£59.8m, €68.4) in common equity and warrants to Steiner Leisure, part of the L Catterton portfolio.

OSW was previously owned by Steiner, but was sold to Haymaker Acquisition Corp in 2018 in a transaction valued at US$948m (€825.6m, £720.6m).
OSW has been struggling since the pandemic began and has furloughed 96 per cent of its US and Caribbean resort spa staff and 37 per cent of corporate personnel, repatriated 45 per cent of all cruise ship employees and closed all US and Caribbean destination resorts spas.

Leonard Fluxman, OSW’s executive chair said: “This investment substantially increases our financial strength and liquidity and attests to investor confidence in our ability to weather this unprecedented crisis, rapidly rescale our operations, and resume our record of profitable growth.”

L Catterton acquired OSW in 2015, when it bought Steiner; it later split the group, selling off OSW and keeping the Cortiva Institute, which offers training for massage and skincare therapists, and product lines including skincare brand Elemis and Ideal Image.

Marc Magliacano, L Catterton managing partner and OSW director, commented: “We’re proud to have the opportunity to increase our investment and further our partnership with OSW. We’ve worked with OSW since 2015 and now have re-committed our resources to assist them during these challenging times.”

Glenn Fusfield, OSW CEO, commented: “This investment will sustain the business through an extended period of cancelled voyages and fuel our continued innovation of service offerings and spa experiences.

“This will enable us to fully capitalise on our market position and growth opportunities when normal operations resume.”

The recent deal will see OSW issue approximately 18.8m common shares to Steiner in exchange for the cash infusion. Steiner will also expand its representation on the OSW company board to three of the 10 directors.


News
1 to 12 of 7448 news stories
10 Jul 2020
England and Scotland have become the most recent countries to announce their spas will reopen, following a hard-fought campaign by industry associations, operators and the media. Spas will be permitted to reopen from Monday 13 ... More
09 Jul 2020
Luxury country house hotel, Beaverbrook Hotel and Spa, in Leatherhead, UK, has curated a series of wild wellness experiences to assist with both emotional and physical wellbeing following its reopening on 4 July. The new ... More
09 Jul 2020
WTS International has snapped up Todd Walter as its new president, following the demise of Mynd Spa & Salon – formerly The Elizabeth Arden Red Door Salon & Spa – where he was CEO. Walter ... More
08 Jul 2020
Healing Hotels of the World is hosting a virtual Master Class with wellness experts from luxury destination spas, Rancho la Puerta and The Farm at San Benito. Sarah Livia Brightwood, president of Rancho La Puerta ... More
08 Jul 2020
The government of Dubai has announced that spas and massage centres across the emirate can now open for business following the coronavirus lockdown on 15 March. It revealed the news on 3 July in its ... More
07 Jul 2020
According to CEO of Aromatherapy Associates (AA), Anna Teal, online retail has been crucial for business following enforced closure of spas. Speaking exclusively to Spa Business, Teal shared how the company has pivoted its online ... More
07 Jul 2020
The Global Wellness Summit (GWS) has switched venues from Tel Aviv to the US following travel disruption due to the pandemic. The event will now take place from 8-11 November 2020 at The Breakers in ... More
02 Jul 2020
Planning permission has been submitted for a naturally filtered thermal experience and botanical spa and wellbeing hub on a dutch barge moored in West India Quay, London. Conceptualised by bodywork therapist Nico Thoemmes, the Water ... More
01 Jul 2020
As a wave of spas reopen around the world, it’s clear the industry is going to need to be creative to cater to new consumer needs which will likely focus on prioritising health. In light ... More
02 Jul 2020
The UK spa, beauty and wellness industry is in uproar following a recent Prime Minister’s Question time where the urgent matter of reopening the sector reduced MPs to laughter. William Wragg, MP for Hazel Grove ... More
01 Jul 2020
Kathryn Moore, founder of Spa Connectors, has announced the launch of the Hall of Wellness Awards (HOW Awards) to recognise those excelling in their fields in the global spa, beauty and wellness industry. The awards ... More
30 Jun 2020
Italian destination spa, Borgo Egnazia, has reopened to guests and updated its popular Happiness Break to begin at home, with a new set of pre-arrival digital consultations and classes. Borgo Egnazia’s team of therapists has ... More
     
International SPA Association - iSPA
The Wellness
Company Profile
Booker by MINDBODY
Booker by Mindbody is an all-in-one management solution to run and grow your spa. [more]
 
MORE PROFILES
Featured Supplier
Technology will play a key role as spas adapt to business after the lockdown
As the spa and wellness industry emerges into a new normal in the wake of the 2020 COVID lockdown, spas will be altering many of their business practices in order to adhere to social distancing guidelines and reduce unnecessary human interaction. ... more
TechnoAlpin
Product news
BC SoftWear develops natural cotton and triple layer face masks for washing and reusing
BC SoftWear develops natural cotton and triple layer face masks for washing and reusing
Valmont debuts microbiome-balancing skincare range
Valmont debuts microbiome-balancing skincare range
Noel Asmar introduces eco-friendly face shields for therapists
Noel Asmar introduces eco-friendly face shields for therapists
Gharieni launches illuminated protective screen for facial treatments
Gharieni launches illuminated protective screen for facial treatments
Finnmark Sauna creates luxury sauna on wheels
Finnmark Sauna creates luxury sauna on wheels
ResortSuite’s app lets guests control their own wellness itinerary
ResortSuite’s app lets guests control their own wellness itinerary
Directory

 
JOBS
NEWS
VIDEO
TRAINING
PRODUCTS
MAGAZINE
 
SPA BUSINESS
SPA-KIT.NET
SPA BUSINESS HANDBOOK
SUBSCRIBE
ADVERTISE
FREE DIGITAL SUBSCRIPTIONS
CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2020



Jobs   News   Products   Magazine
NEWS
On-board spa operator, One Spa World, gets cash injection from L Catterton
POSTED 07 May 2020 . BY Megan Whitby
The agreement will see OSW sell US$75m (£59.8m, €68.4) in common equity and warrants to Steiner Leisure
This investment will sustain the business through an extended period of cancelled voyages and fuel our continued innovation of service offerings and spa experiences
– Glenn Fusfield
Cruise ship and resort operator, One Spa World (OSW), has struck a rescue deal with private equity firm, L Catterton for financial pandemic assistance.

The agreement will see OSW sell US$75m (£59.8m, €68.4) in common equity and warrants to Steiner Leisure, part of the L Catterton portfolio.

OSW was previously owned by Steiner, but was sold to Haymaker Acquisition Corp in 2018 in a transaction valued at US$948m (€825.6m, £720.6m).
OSW has been struggling since the pandemic began and has furloughed 96 per cent of its US and Caribbean resort spa staff and 37 per cent of corporate personnel, repatriated 45 per cent of all cruise ship employees and closed all US and Caribbean destination resorts spas.

Leonard Fluxman, OSW’s executive chair said: “This investment substantially increases our financial strength and liquidity and attests to investor confidence in our ability to weather this unprecedented crisis, rapidly rescale our operations, and resume our record of profitable growth.”

L Catterton acquired OSW in 2015, when it bought Steiner; it later split the group, selling off OSW and keeping the Cortiva Institute, which offers training for massage and skincare therapists, and product lines including skincare brand Elemis and Ideal Image.

Marc Magliacano, L Catterton managing partner and OSW director, commented: “We’re proud to have the opportunity to increase our investment and further our partnership with OSW. We’ve worked with OSW since 2015 and now have re-committed our resources to assist them during these challenging times.”

Glenn Fusfield, OSW CEO, commented: “This investment will sustain the business through an extended period of cancelled voyages and fuel our continued innovation of service offerings and spa experiences.

“This will enable us to fully capitalise on our market position and growth opportunities when normal operations resume.”

The recent deal will see OSW issue approximately 18.8m common shares to Steiner in exchange for the cash infusion. Steiner will also expand its representation on the OSW company board to three of the 10 directors.
RELATED STORIES
OneSpaWorld and Celebrity Cruises announce exclusive partnership


Celebrity Cruises has selected health and wellness provider OneSpaWorld as the exclusive spa and wellness partner for its fleet.
Celebrity Cruises to launch own spa offering aboard new ship


Cruise operator Celebrity Cruises, a subsidiary of Royal Caribbean Cruises, is launching the Celebrity Apex, a new ship with its own spa offering.
Haymaker and OneSpaWorld to combine in US$948m deal


Haymaker Acquisition Corp. and OneSpaWorld (OSW), a global provider of health and wellness products and services onboard cruise ships and in resorts around the world, have entered into what they call a "definitive business combination agreement" – a transaction valued at US$948m.
Kelly Hoppen designs 22,000sq ft nature-inspired spa for Celebrity Cruises


Celebrity Cruises has unveiled its new The Spa on Celebrity Edge, a 22,000sq ft holistic spa inspired by nature and designed by Kelly Hoppen, who also designed the ship’s accommodations.
MORE NEWS
Jubilation as spas set to reopen in England and Scotland following gruelling lobbying campaign
England and Scotland have become the most recent countries to announce their spas will reopen, following a hard-fought campaign by industry associations, operators and the media.
Wild wellness: Beaverbrook Hotel and Spa develops nature-based wellness experiences
Luxury country house hotel, Beaverbrook Hotel and Spa, in Leatherhead, UK, has curated a series of wild wellness experiences to assist with both emotional and physical wellbeing following its reopening on 4 July.
Todd Walter appointed president of WTS
WTS International has snapped up Todd Walter as its new president, following the demise of Mynd Spa & Salon – formerly The Elizabeth Arden Red Door Salon & Spa – where he was CEO.
Wellness specialists from Rancho La Puerta and The Farm to host virtual masterclass on healing journeys
Healing Hotels of the World is hosting a virtual Master Class with wellness experts from luxury destination spas, Rancho la Puerta and The Farm at San Benito.
Dubai government gives green light for spas to reopen
The government of Dubai has announced that spas and massage centres across the emirate can now open for business following the coronavirus lockdown on 15 March.
Anna Teal: “Spas need to consider re-evaluating the role of the therapist”
According to CEO of Aromatherapy Associates (AA), Anna Teal, online retail has been crucial for business following enforced closure of spas. Speaking exclusively to Spa Business, Teal shared how the company has pivoted its online offering and how the industry can capitalise off demand for online retail.
+ More news   
 
COMPANY PROFILES
Vagheggi Spa

Established in 1975, Vagheggi is an Italian professional skincare company. Our headquarters and pr [more...]
+ More profiles  
DIRECTORY
+ More directory  
DIARY

 

10-11 Jul 2020

IFBA Live

The Slate at Warwick Conferences, Coventry, United Kingdom
16-17 Jul 2020

APSWC Round Table 2020

Naman Resort, Da Nang, Vietnam
+ More diary  
 


CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2020

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS