The Spanish-based animal, waterpark and amusement park operator Parques Reunidos changed hands back in January in a deal believed to be worth more than €900 million. The buyer was, you’ve guessed it, a private equity house: Candover in London.
A minority investment will also be made by the Bourne Leisure, also from the UK, and the management team including Richard Golding, Jose Diaz and Pedro Cortes will all re-invest in the new equity structure.
Parques Reunidos currently operates 22 venues in six countries: Spain, Italy, France, Belgium, Norway and Argentina. The group, which is headquartered in Madrid, reported pro forma revenues of €193.5m in 2006 and entertained over 9.2m visitors.
The management team is led by chief executive Richard Golding and general manager Jose Diaz. Both have been at the forefront of European consolidation having led the growth and international expansion of the group since they joined in 2003, buying properties such as Bobbejaanland in Belgium and Mirabilandia in Italy. Their growth strategy of acquiring and integrating under-performing regional attraction parks will remain a core focus for the group going forward.
“We are very excited to have Candover's backing and access to their collective expertise in the leisure sector as we seek to continue building our portfolio of attraction parks across Europe and possibly further a field,” says Golding.
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