Palladium Equity Partners LLC said Jan. 10that it invested in CircusTrix Holdings LLC. Financial terms weren’t announced. CircusTrix founder and CEO Case Lawrence, his management team and other existing owners are also taking part in the deal. CircusTrix develops, owns and operates indoor extreme recreation parks. The Sage Group LLC served as financial advisor to CircusTrix. Skadden, Arps, Slate, Meagher & Flom LLP was the legal advisor for CircusTrix. Paul, Weiss, Rifkind, Wharton & Garrison LLP was the legal advisor for Palladium.
NEW YORK, NY — January 10, 2017 — Palladium Equity Partners, LLC (along with its affiliates, “Palladium”), a private investment firm with approximately $2.0 billion in assets under management, today announced that one of its affiliates has made a significant investment in CircusTrix Holdings, LLC (“CircusTrix”), an owner/operator of indoor extreme recreation parks. The investment is being made in partnership with CircusTrix founder and CEO Case Lawrence, his management team and other existing owners.
CircusTrix is a well-known innovator in the indoor extreme recreation space. The company’s parks consist of trampolines, ninja obstacle courses, trapezes, dodgeball, bouldering and other activities primarily targeted at the 23 and under demographic. The Utah-based company has seen strong growth since it was founded in 2011, expanding from a single park in California to over 30 locations in the United States, Europe and Asia. The company plans to accelerate new park openings following Palladium’s investment.
“CircusTrix has experienced tremendous growth and established a strong market position by offering differentiated, innovative attractions at its parks,” said Justin Green, a Managing Director of Palladium. “My partners and I look forward to working with Case and his team to seek to continue expanding into new markets and offering first-rate experiences to customers.”
“Palladium is exactly the right partner to help us achieve our aggressive growth plans,” said Lawrence, CircusTrix Founder and CEO. “The team there has extensive experience in working with founder-owned businesses and shares our vision for the next chapter of CircusTrix. In addition to developing new facilities domestically and internationally, this partnership will provide the capital needed to introduce ambitious new attractions into our parks and allow us to pursue strategic acquisitions.”
CircusTrix is known for creating adrenaline-filled, physical experiences in stylish environments that are easily shareable on social media. The company has also become a notable player in obstacle athletics, signing an endorsement deal with extreme obstacle athlete Kevin Bull of American Ninja Warrior/Spartan Ultimate Team Challenge fame in June 2016.
Terms of the investment were not disclosed. The current CircusTrix management team will remain in place following the transaction.
The Sage Group, LLC served as financial advisor to CircusTrix. Skadden, Arps, Slate, Meagher & Flom LLP was the legal advisor for CircusTrix. Paul, Weiss, Rifkind, Wharton & Garrison LLP was the legal advisor for Palladium.
Founded by Case Lawrence in 2011, and with more than 30 parks spanning the U.S., Asia and Europe, CircusTrix is the largest developer, owner and operator of indoor recreation parks in the world. As an innovator in sharable, adrenaline-filled family entertainment, CircusTrix has changed the trampoline park and family fun industry by bringing together a unique combination of attractions like the Aerial Ninja Obstacle Course, Flying Trapeze, Parkour Zone, Bouldering Walls and Trampolines. For more information, visit www.circustrix.comor check out CircusTrix on Facebook and YouTube.
About Palladium Equity Partners, LLC
Palladium is a middle market private equity firm with approximately $2.0 billion in assets under management. The firm seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital, strategic guidance and operational oversight. Since its founding in 1997, Palladium has invested over $1.8 billion of capital in 32 platform investments and more than 100 add-on acquisitions. The firm focuses primarily on buyout equity investments in the range of $50 million to $150 million. The principals of the firm have significant experience in food, consumer, financial services, business services, healthcare, industrial and media businesses, with a special focus on companies they believe will benefit from the growth in the U.S. Hispanic population. Palladium is based in New York City. For more information, visit www.palladiumequity.com.