CircusTrix Sells a Significant Stake
CircusTrix Holdings, LLC, a leading owner/operator of extreme indoor recreation parks, has received a significant investment by Palladium Equity Partners, LLC (along with its affiliates, “Palladium”). Founded in 2011 by Chief Executive Officer Case Lawrence, CircusTrix offers an innovative recreational and adrenaline-filled experience consisting of trampolines, ninja obstacle courses, trapezes, dodgeball, bouldering and other activities primarily targeted at the 23 and under demographic.
As an innovator in shareable family entertainment, CircusTrix has pioneered new developments in the trampoline park and family fun industry by bringing together a unique combination of attractions and amenities. 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 in June 2016. CircusTrix has expanded from one park in California to over 30 locations in the United States, Europe and Asia, and is at the forefront of an explosive industry that has seen park counts grow from 40 in 2011 to 500+ globally today.
“This transaction represents a thrilling milestone for both CircusTrix and the indoor recreation industry,” said Frederick Schmitt, Managing Director of The Sage Group. “It recognizes CircusTrix’s successful and unique concept, and also brings credibility, sophistication, and institutional capital to the sector. With the consumer industry’s movement towards experience as the differentiator, we believe this will end up being the first of many transactions in this segment.”
Case Lawrence and the existing management team will continue running the business in their current roles, partnering with Palladium to accelerate new park openings and explore other strategic initiatives, including acquisitions. Case Lawrence, Peery Partners (with whom CircusTrix partnered in 2013 in order to accelerate growth), management team members and other minority owners, will retain a meaningful equity stake in the business. The Company will continue to operate out of its Provo, Utah headquarters.
The Sage Group acted as exclusive financial advisor to CircusTrix.