Adrenaline Family Entertainment, Inc. announced today the acquisition of Alabama Adventure in Bessemer, Alabama. Adrenaline Family Entertainment is an amusement park operating company led by a team of former senior Six Flags Inc. executives and majority owned by Angelo, Gordon & Co., a New York-based investment management firm.
The seller, Southland Entertainment, LLC, acquired the park in 2003 and has since invested substantial capital, including introducing new rides and attractions. Southland will now turn its attention and resources to the development of the adjacent 157 acre parcel for which preliminary development plans include a hotel/indoor waterpark project, a possible RV park project and other commercial and retail development.
Read the entire press release on Private Equity Hub.