Private equity firm takes majority stake in iconic nightclub group Pacha

Aprivate equity firm has acquired what is understood to be a majority stake in iconic nightclub group Pacha.

Trilantic Europe, which was founded in 2009 by five partners who all worked together at Lehman Brothers, has tied up a deal with the Ibiza-based company that is reported to be worth up to £300m.

The move will provide additional resources to fuel Pacha’s international expansion plan, Trilantic said. As well as running nightclubs across the world, Pacha has been diversifying its business by moving into hotels, restaurants and fashion.

The group has been controlled by the Urgell family since its first club opened in the Catalonian town of Sitges in 1967. Its Ibiza club has been in operation since 1973.

Ricardo Urgell, who founded Pacha with his brother Piti, will continue to be a shareholder of the company. “I want to welcome Trilantic Europe to our home," he said.

"I am very excited about this new phase of our group’s life, where I trust that, together with our new partner, we will undertake projects that will further contribute to the success achieved in the last 50 years.”

Trilantic focuses on mid-market companies in western Europe, and has previously partnered with the likes of Spanish train manufacturer Talgo and telecoms company Euskaltel. 

“It is an honour that Ricardo Urgell has opened Pacha’s doors to us,” a spokesman said. “We look forward to working together with him and the rest of the team on the very exciting future of the company.”