A few months after Pacha Group went on sale, the acquisition of the company has been finalized and made public. The international nightclub conglomerate has been purchased by Transatlantic Capital Partners for €350 million – the rough equivalent of $377 million USD.

Pacha founder Ricardo Urgell had remarked that the sale was “practically done” back in October, after the company had been on the market roughly a month. Although the initial asking price was €500 million, the figure has not changed since Urgell’s statement.

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According to Diario de Ibiza, Transatlantic Capital Partners sphere of influence spans the globe but is especially concentrated in Italy and Spain. In October, representatives on behalf of the venture capital fund had met with Santa Eulària mayor Vicent Marí, as lawmakers in that particular municipality of Ibiza experienced the most friction with the Pacha Group.

The Pacha Group sale is but one of numerous changes that might practically render the White Isles unrecognizable in 2017. Following the raids of nightclubs like Space, Privilege, Ushuaïa and Pacha’s flagship location itself as a result of Operation Chopin, the Sant Josep Town Council has also begun discussions which could result in stricter noise and capacity ordinances.

What remains to be seen how Transatlantic Capital Partners’ acquisition of the Pacha Group will affect any of the latter company’s properties. Any significant changes will surely become more clear as the Ibiza nightlife community gears up for its busy summer season.

Source: Resident Advisor