Haymaker Acquisition Corp., a publicly traded special-purpose acquisition company, and OneSpaWorld, the pre-eminent global provider of health and wellness products and services onboard cruise ships and in destination resorts around the world, have entered into a definitive business combination agreement.
WHO: Haymaker was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more target businesses. The executives of Haymaker are experienced at recognizing and quantifying the value of brands and creating strategies to reposition those brands to reach their full market potential.
OneSpa World is one of the largest health and wellness services companies in the world, headquartered in Nassau, Bahamas. OSW’s distinguished facilities and highly trained and experienced staff offer guests a comprehensive suite of premium health, fitness, beauty, and wellness products and services onboard 161 cruise ships and at 66 destination resorts globally. For over 50 years, OSW’s leading market position has been built upon its incomparable expertise and broad suite of service offerings, proven track record of product innovation, expansive global platform for recruitment, training and logistics, and exceptional service standards.
IN THEIR OWN WORDS: Leonard Fluxman, Chairman of OSW, commented: “I am very excited that OSW is re-entering the public markets as a leader in global health and wellness services with an extensive track record of profitable growth and significant, visible expansion ahead. Combining with Haymaker and reentering the public markets as a scaled, publicly-traded, pure-play operator of health and wellness facilities enhances our ability to deliver the world class service and innovation that our cruise line and resort partners have come to expect from our organization while driving long-term value creation for our shareholders.”
Marc Magliacano commented: “We are proud of the dramatic growth that OSW has achieved since we acquired Steiner Leisure in late 2015. Working with the OSW team, we have helped establish OSW as the undisputed global leader in the delivery of advanced and effective health and wellness services to guests in the maritime channel and have demonstrated significant success to our partners in the effort to increase wellness center revenues both on land and sea. As we re-enter the public markets as a pure-play health and wellness services operator with more capabilities and more differentiation than ever before, we are confident that OSW will continue to thrive and we look forward to participating in the Company’s future success as a significant investor.”
Charles Kantor, Neuberger Berman Portfolio Manager, commented: “As OSW maintains and grows its leading position in the global leisure market for health and wellness services, we look forward to providing our experienced public market perspectives to help further drive long-term value creation—particularly as it relates to capital allocation and corporate governance for this unique asset-lite business model.”
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