Haymaker Acquisition Company and OneSpaWorld, a provider of spa services on cruise ships, have announced that they have entered into what they called a combination agreement.
The companies will combine under a new holding company, OneSpaWorld Holdings, which is expected to be listed on the NASDAQ under the symbol OSW.
OSW is being sold by Steiner Leisure, which was previously a publicly traded company from 1996 to 2015, when it was acquired by Catterton, a private equity firm.
The current transaction is valued at $948 million.
Headquarted in the Bahamas OSW offer spa, health and wellness services and products aboard some 161 cruise ships and at 66 destination resorts globally.
Haymaker is a private equity and venture capital investment firm.
Leonard Fluxman and Glenn Fusfield of OSW will lead the combined company as Chairman and CEO respectively.