Arle Capital portfolio company Parques Reunidos has acquired Florida’s Miami Seaquarium. Parques Reunidos is a global leisure park operator.
Arle Capital today announces that portfolio company Parques Reunidos, a leading global leisure park operator, has completed its acquisition of Florida’s Miami Seaquarium®. The acquisition was funded through existing cash reserves from its US business Palace Entertainment, which owns more than 38 parks across the US.
Miami Seaquarium® is the longest-operating oceanarium in the US, attracting around 650,000 visitors per annum, with a season which runs throughout the year. Uniquely positioned in Virginia Key (Miami-Dade County), the park allows visitors to view or interact with marine animals including dolphins, manatees, sea lions and hosts eight different marine animal shows each day.
The Seaquarium has exciting growth potential driven by a burgeoning Miami economy, strong customer recognition and the strong commitment for financial support from Parques Reunidos.
This acquisition completes Parques Reunidos’ portfolio of marine life parks that already includes parks with iconic brands such as Sea Life in Hawaii, Marineland in France, Selwo Marina in Spain and Oceanarium in the UK. It additionally manages the L’Oceanografic, the largest European park of its kind, located in Valencia, Spain.
Commenting on the acquisition, Javier Abad, Partner at Arle Capital, said:
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“This is a landmark acquisition for the Group in the US. The quality of the park, the opportunity to further expand Seaquarium’s offering and the year-round experience presented by the local weather make it an excellent addition to our diversified US portfolio of parks. It is another positive development for Parques, following the recent successful refinancing of its European debt and injection of capital which will be used to drive organic growth and enhance the customer experience.”
Yann Caillère, CEO of Parques Reunidos said,
“This acquisition underpins our strategy to grow through acquisition and geographic diversification, as well to invest in our existing parks and continually improve the visitor experience. Marine life installations are one of our core businesses, where we have developed a world class reputation. We are the only true operator that successfully manages all different types of park with an extensive international, global reach”.
Fernando Eiroa, Palace Entertainment’s President and CEO, said:
“Palace Entertainment is excited to be adding such a premier entertainment and educational destination to our collection of family parks. We understand the commitment that Miami Seaquarium has to wildlife conservation, community involvement and their dedication to both educate and entertain guests.”
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For further information please contact:
Javier Abad/Julie Foster: +44 (0) 20 7895 2754
Ben Foster: +44 (0) 20 3603 5221 / +44 (0) 7776 240 806
Rosie Oddy: +44 (0) 20 3603 5223 / +44 (0) 7557 804 512
Notes to editors
Arle is an international private equity investor and asset manager. Arle brings together an accomplished team of investment professionals and proven international business leaders, managing a diverse portfolio of around
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€2 billion for a global investor base. Since taking on the portfolio in 2009, Arle has returned over €1 billion to investors through the realisation of six investments: Ontex, Equity Trust, Capital Safety Group, Qioptiq, DX Group and the Innovia Group.
Arle’s approach is based on active ownership in close partnership with management in order to drive long term uplifts in growth and value which will generate strong returns for Arle’s investors. For more information, please visit www.arle.com.
About Parques Reunidos
Parques Reunidos is one of the leading and fastest growing leisure park operators in the world. The Group portfolio is made up of 69 operations (theme parks, animal parks, water parks and marine life parks).
The Group has continued its expansion in recent years, both at European and international level, receiving about 26.2 million visitors every year in 12 countries in the Americas and Europe. For more information about Parques Reunidos please visit www.parquesreunidos.com
About Miami Seaquarium®
Miami Seaquarium® is a family-oriented marine-life park open to the public 365 days a year that provides visitors with a greater understanding and appreciation for marine life through shows, presentations and marine-life exhibits. Miami Seaquarium® is an accredited member of the Alliance of Marine Mammal Parks and Aquariums, an international organization committed to the care and conservation of marine mammals. Accreditation by the Alliance means this facility meets or exceeds all the standards of excellence for marine mammal care, husbandry, conservation and education.
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