Great Wolf is set to generate more than $300 million in earnings before interest, taxes, depreciation and amortization over the next 12 months (Credit: iStock)
Centerbridge Partners is reportedly exploring selling its Great Wolf Resorts water park chain.
The Chicago-based firm began considering a sale after receiving an unsolicited takeover bid that could be worth more than $3 billion for the national chain, which includes a portfolio of 17 indoor water parks and two more in development in Scottsdale, Arizona and Manteca, California, according to Bloomberg.
Great Wolf is set to generate more than $300 million in earnings before interest, taxes, depreciation and amortization over the next 12 months, sources told Bloomberg. Spokespeople for Centerbridge and Great Wolf did not comment on the report, but sources said Centerbridge also could opt to hold on to the chain and raise capital for further expansion instead.
Centerbridge bought Great Wolf from Apollo Global Management in March 2015. [Bloomberg] — John O’Brien
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