Spanos Barber Jesse & Co. (SBJ) has acquired Under Canvas, a provider of luxury camping services or, as it is otherwise called, “glamping” (glamorous camping). According to SBJ, Under Canvas is one of the fastest growing adventure-hospitality brands in America.
Under Canvas provides travelers with luxury canvas tent accommodations and an authentic outdoor experience. The company operates four specialized campsites: near Zion National Park in Utah; near Arches National Park and Canyonlands National Park in Utah; near Yellowstone National Park in Montana; and Glacier National Park in Montana. Guest accommodations include private canvas tents, luxury beds and linens, and optional en-suite bathrooms and showers.
Under Canvas also provides guest services which include curated adventures, outdoor dining options, daily housekeeping, and communal events. Under Canvas is headquartered in Bozeman, MT (www.undercanvas.com).
“We are excited to be investing with co-founders Sarah and Jacob Dusek, so they can deliver amazing outdoor experiences to even more guests at new camps across the US,” said Tom Barber, Managing Director at SBJ.
SBJ invests from $8 million to $35 million in consumer, business services and healthcare services companies that have up to $100 million in revenue and EBITDA from $1 million to $10 million. In October 2015, SBJ held a final closing on its debut fund, SBJ Fund LP, with total capital commitments of $204 million, exceeding its original $150 million target. The firm was founded by Gus Spanos, Tom Barber and Bill Jesse and has offices in Walnut Creek, CA (near San Francisco) and in Dallas, TX (www.sbjcap.com).
“Today’s consumers crave memorable experiences and staying with Under Canvas combines pristine landscapes, innovative tent design and hotel-like guest services to create a truly unique and unforgettable family vacation,” said Ben Landis, a Principal at SBJ.
“We are excited to partner with SBJ as we build and expand the Under Canvas brand. Our team looks forward to continued growth with new camps near the Great Smoky Mountains, the Grand Canyon and Mount Rushmore, amongst others, in the years to come,” said Ms. Dusek.
© 2017 Private Equity Professional | November 30, 2017
