Private equity firm Pegasus Capital acquires Thailand-based luxury resort chain Six Senses

US private equity investor Pegasus Capital Advisors LP said it has agreed to acquire Thailand-based Six Senses Resorts & Spas, a Thailand-based chain of super-luxury resorts and spas.

Pegasus and some of its affiliates will pay an undisclosed amount for the intellectual property and management contracts associated with the resort and spa business conducted under the Six Senses and Evason brands. The assets will serve as a launching pad for a new company, which  Pegasus and its affiliates will manage.

The deal, whose completion is expected within three months, does not include the Soneva brand and resorts and real estate holdings. Those will remain under the ownership of Sonu Shivdasani, the founder of Six Senses and formerly its chief executive. Six Senses president Bernhard Bohnenberger will retain his position and will take charge of the Bangkok office.

Pegasus founder Craig Cogut said that Six Senses had become known worldwide for providing guests at its resorts and spas with a unique and innovative experience. The new company will benefit from this great legacy, starting its corporate life free of any debts and with strong growth prospects. Pegasus will provide capital to fund the company’s expansion in existing markets and its entry into new geographies, allowing¬† Bernhard Bohnenberger and his team to develop the industry-leading brand further, Cogut added.

Six Senses is currently present in 20 countries, operating 10 resorts and 28 spas. Another 15 locations are in the construction or development phase, among them facilities in China and Vietnam.