Great Wolf operates 11 indoor water park resorts in North America, including one on Kings Island Drive in Mason.
“We are very excited to have completed the acquisition of Great Wolf,” said Aaron Stone, senior partner at Apollo Global Management. “Since the beginning of this process, we have been extremely impressed with Great Wolf, including its management team and the exceptional family destination resorts that it operates.”
Apollo waged a bidding war with Denver private-equity firm KSL Capital Partners for the parent of the Great Wolf Lodge chain of indoor water parks since Apollo made its first offer of $5-per-share in mid-March. Great Wolf accepted that offer and KSL and Apollo continued to increase their bids until April 19 when KSL made its final offer of $7.25 a share.
Kim Schaefer, Great Wolf’s CEO, said everyone at the company is “very excited” about partnering with Apollo and what that partnership will mean for Great Wolf’s next phase of growth, as well as the benefits it offers to its employees and the communities it serves.
“Apollo’s proven investment track record and access to capital will facilitate the continued expansion of Great Wolf as a premier family vacation destination,” Schaefer said.