Membership Collective Group, which operates luxury restaurants and clubs offered through a membership platform, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
Membership Collective Group offers memberships to a global collection of restaurants and social clubs. The company's core spaces are known as Soho Houses, which are designed to be creative, collaborative spaces for writers, artists, performers, founders, directors, designers, and producers. The membership of each Soho House is selected by a committee of influential creatives and innovators that represent the local area. Membership Collective Group also offers other spaces such as the work-oriented Soho Works, The Ned in London, and Scorpios Beach Club in Mykonos.
The London, United Kingdom-based company was founded in 1995 and booked $315 million in sales for the 12 months ended March 31, 2021. It plans to list on the NYSE under the symbol MCG. Membership Collective Group filed confidentially on February 18, 2021. J.P. Morgan, Morgan Stanley, Goldman Sachs, BofA Securities, and HSBC are the joint bookrunners on the deal. No pricing terms were disclosed.
