Add-on Acquisition • Leisure

Parques Reunidos Acquires Palace Entertainment

On August 29, 2007, Parques Reunidos acquired leisure company Palace Entertainment from MidOcean Partners for 330M USD

Acquisition Context
  • This is Parques Reunidos’ 1st transaction in the Leisure sector.
  • This is Parques Reunidos’ largest (disclosed) transaction.
  • This is Parques Reunidos’ 1st transaction in the United States.
  • This is Parques Reunidos’ 1st transaction in California.

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M&A Deal Summary

Date August 29, 2007
Target Palace Entertainment
Sector Leisure
Buyer(s) Parques Reunidos
Sellers(s) MidOcean Partners
Deal Type Add-on Acquisition
Deal Value 330M USD

Target Company

Palace Entertainment

Newport Beach, California, United States
One of the largest operators of waterparks and family entertainment centers in the United States.
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Buyer Overview 1

Buyer

Parques Reunidos

Madrid, Spain

Category Company
Founded 1967
Sector Leisure
DESCRIPTION

Parques Reunidos is an owner and operator of recreational infrastructure with a presence in Europe, North America, and Australia. The company portfolio comprises over 60 assets (theme parks, aquatic parks, animal parks, and other attractions) distributed in 45 locations and receiving over 20 million visitors per year. Parques Reunidos was founded in 1967 and headquartered in Madrid, Spain.


Deal Context for Buyer #
Overall 1 of 3
Sector: Leisure 1 of 3
Type: Add-on Acquisition 1 of 3
State: California 1 of 1
Country: United States 1 of 2
Year: 2007 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-23 Sea Life Park Hawaii

Waimanalo, Hawaii, United States

Sea Life Park Hawaii is a operator of theme park.

Buy -

Seller Profile 1

SELLER

MidOcean Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

MidOcean Partners is a private equity firm focused on acquiring controlling interests in middle-market companies throughout North America. The Firm has a preference for consumer and business services sectors including automotive, food/beverage, retail, consumer products, information services, infrastructure services, training and more. MidOcean seeks opportunities valued between $150 and $750 million where it can commit $75 to $300 million. In addition to investing equity, MidOcean also looks to provide flexible credit solutions as well. MidOcean Partners was formed in 2003 and is based in New York, New York.


Deal Context for Seller #
Overall 10 of 37
Sector: Leisure 2 of 2
Type: Add-on Acquisition 5 of 19
State: California 2 of 5
Country: United States 8 of 32
Year: 2007 1 of 1
Size (of disclosed) 14 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-19 Bushnell

Overland Park, Kansas, United States

Bushnell, Inc. is a designer, marketer and distributor of branded sports optics, outdoor accessories and performance eyewear. Bushnell offers a broad portfolio of high-quality, innovative and affordable products targeted to the outdoor and sport enthusiast.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-10-15 Fairway Outdoor Advertising

Duncan, South Carolina, United States

Fairway Outdoor Advertising LLC was formerly known as Naegele Outdoor Advertising, Inc. is the fifth largest outdoor advertising company in the United States and one of the largest privately held companies in the industry.

Buy -