MADISON, Wis.—Great Wolf Resorts has entered into a definitive agreement and plan of merger with an affiliate of Centerbridge Partners whereby Centerbridge, a private investment firm, will acquire Great Wolf, a family of indoor waterpark resorts. Great Wolf is currently controlled by funds affiliated with Apollo Global Management.
“This is an exciting next chapter for Great Wolf Resorts,” Great Wolf CEO Kimberly K. Schaefer stated. “During our partnership with Apollo, we saw tremendous growth for our company, including opening our 12th Great Wolf Lodge in Fitchburg, Mass., and having our 13th 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. “We are also fully committed to expanding the company into new markets so more families can enjoy a Great Wolf vacation.”
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.