Posted Friday, March 27, 2015 8:38 AM | Contributed by Drew2876
Private equity firm Centerbridge Partners LP has reached a deal to acquire Great Wolf Resorts Inc, the largest U.S. operator of indoor water parks, for $1.35 billion, including debt, people familiar with the matter said on Tuesday.
This is what Apollo was going to do with Cedar Fair if that deal had gone through. It seems to me that I read somewhere that Centerbridge is made up of former Blackstone executives, so at least they have some background in the hospitality/entertainment industry.
I get the impression that they must have been somewhat hands off. We got to know a few people in the org when my wife was doing the ask-a-mom thing for them, and it seems like a lot of people had a very long tenure with the company. I would expect a "handsy" owner to replace a lot of senior people with their own.
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