Great Wolf Resorts, Inc. to be Acquired by an Affiliate of Centerbridge Partners, L.P.

  • Great Wolf Resorts, Inc.
  • 03.24.15
Great Wolf Resorts, Inc. announced that it has entered into a definitive agreement and plan of merger with an affiliate of Centerbridge Partners, L.P. whereby Centerbridge, a leading private investment firm, will acquire Great Wolf, one of North America's largest family of indoor waterpark resorts.

Great Wolf is currently controlled by funds affiliated with Apollo Global Management, LLC.

"This is an exciting next chapter for Great Wolf Resorts," said Kimberly K. Schaefer, the chief executive officer of Great Wolf. "During our partnership with Apollo we saw tremendous growth for our company, including opening our twelfth Great Wolf Lodge in Fitchburg, Mass. and having our thirteenth under construction in Garden Grove, Calif.. Now as we join Centerbridge's portfolio, we look forward to continuing to provide families with amazing experiences at each of our lodges."

"Great Wolf is a leading hospitality business and we are excited to support the company in its next phase of growth," said William D. Rahm, senior managing director of Centerbridge. "Kim Schaefer and her team have done an exceptional job delivering a uniquely memorable experience to thousands of families every year and we are thrilled to have the chance to partner with them to build on that tradition. We are also fully committed to expanding the company into new markets so more families can enjoy a Great Wolf vacation."

"We have had a tremendous partnership with Kim Schaefer, her senior management team, and all 5,000+ Great Wolf employees to build upon the strong family oriented brand they have established as the leading owner and operator of indoor waterpark resorts. We look forward to continuing to experience the next phase of the company's growth as guests of Great Wolf lodges," said Aaron J. Stone, a senior partner of Apollo Global Management and member of the Great Wolf board of directors.

The merger agreement was unanimously approved by the board of directors of Great Wolf. The transaction is expected to close in the second quarter of 2015, subject to customary closing conditions.  

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