L2 Capital Partners has acquired Jurassic Quest, a producer of family-friendly interactive dinosaur events.
Jurassic Quest’s interactive and animatronic dinosaur events are operated by two touring companies and have over 80 life-like dinosaurs in each exhibition including creatures from the Cretaceous, Triassic and Jurassic eras. Life-sized dinosaurs are exhibited in their natural habitats and placed in action scenes in convention halls and expo centers to educate, entertain and thrill the audience.
Each of the company’s events run for three to four days per week and target families with children between 2-10 years old. More than one million people attend the company’s more than 90 events in 34 states each year.
Jurassic Quest has approximately 100 full-time employees, 80 of which are members of the two traveling tours. The company, led by CEO Robert Hardy, was founded in 2013 by Dan and Leticia Arnold and is headquartered north of Houston in Spring, TX (www.jurassicquest.com).
“We are excited about the momentum this acquisition will bring to our dynamic, family-friendly business,” said Mr. Hardy. “With L2’s support we expect to continue to grow our platform with new additions and attractions that will further educate and thrill families throughout North America.”
“The opportunity to partner with a company such as Jurassic Quest is rare in that its market leadership and demonstrated value proposition are distinct amongst its peers,” said Connor McMahan, a principal at L2 who led the transaction. “We have collected an extraordinary group of board members and advisors that will help guide Jurassic Quest’s very talented management team in executing on its tangible path to organic growth at home in the US and abroad.”
L2 Capital Partners is a lower middle market private equity family office that makes control and minority investments in companies that have revenues from $10 million to $75 million and EBITDA from $2 million to $8 million. Sectors of interest include technology-enabled services; business services; e-commerce/direct marketing; consumer products; manufacturing; and environmental products. L2 Capital was founded by Bob Levine in 2011 and is headquartered in the Philadelphia suburb of Devon, PA (www.L2Capital.net).
“Leticia and I are thrilled with the L2 Capital partnership and we look forward to accelerated growth and innovation at Jurassic Quest,” said Mr. Arnold. “We feel we have found the ideal partner in L2, who shares the passion for our business and who has the vision to see the path to greater accomplishments for Jurassic Quest.”
Charlotte-based Capitala Group (www.capitalagroup.com) provided debt financing and co-invested in the transaction. Houston and Austin-based Statesman Corporate Finance (www.statesmanbiz.com)was the financial advisor to Jurassic Quest.
© 2019 Private Equity Professional | May 28, 2019
