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New Deal


Announced

Completed

Wheels Up went public via a SPAC merger with L Catterton-backed Aspirational Consumer Lifestyle in a $2.1bn deal.

Financials

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Transaction Value£1,532m
Consideration TypeCash, Ordinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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United States

Merger

Private

Single Bidder

Acquisition

Airlines

Majority

Cross Border

Friendly

travel services

Reverse Takeover

De-SPAC

Private Equity

Completed

Synopsis

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Wheels Up, a private aviation with its technology-driven marketplace, expanding the addressable market and making private air travel, went public via a SPAC merger with L Catterton-backed Aspirational Consumer Lifestyle in a $2.1bn deal. "When we founded Aspirational, Wheels Up was exactly the kind of company we wanted to partner with. Kenny and his world-class team have created a truly iconic brand built upon years of exceptional, personalized customer experiences. They are a clear leader and innovator in the space and we look forward to working together to introduce Wheels Up to the global stage. We see many opportunities to leverage our experience and relationships to partner with other aspirational and luxury brands and to expand to international markets," Ravi Thakran, Aspirational Chairman & CEO.

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