Six Senses bought by Pegasus Capital Advisors

Luxury resort company Six Senses has been acquired by US-based private equity fund manager, Pegasus Capital Advisors, for an undisclosed sum.

Six Senses manages 10 resorts and 28 spas in 20 countries around the world, including Oman, Vietnam and Thailand, with another 15 under construction or development. Its brands include Soneva, Six Senses and Evason.

In the Maldives the group has operated the upmarket Soneva Fushi and Soneva Gili properties, and a new resort in Laamu that opened last year. Under the terms of the deal the Soneva-branded properties will be carved from the Six Senses portfolio and will continue to be held by Six Senses founder Sonu Shivdasani, who will remain as CEO, chairman and principle shareholder of the Soneva Group.

Pegasus Capital specialises on investing in middle-market companies facing financial distress, and has tended to focus on consumer products, technology, business services, energy, financial services, industrial manufacturing and the communications sectors.

“Going forward, the new Six Senses will be a debt-free company with committed capital for expansion into new and within existing international markets,” said Craig Cogut of Pegasus Capital Advisors, in a statement. “We are confident that our president Bernhard Bohnenberger and our strong management team will continue to build on its legacy as a recognised leader in luxury hospitality.”

Shivdasani said: “For myself and Eva, my wife, this means we can devote all our energies to our first love – the development of the Sonevas. Soneva will continue to operate its philanthropic arm, The Slow Life Trust, and remain dedicated to achieving environmental goals and a corporate commitment to sustainability.”

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