ABR article "Takeover is the new theme around Ardent Leisure"

[Theme Park Girl]

Just stumbled across this article from earlier in the month... apparently a buyout of Ardent Leisure may be on the cards soon? Seems to be a lot of interest generating in taking over the company. Obviously if this happens, Dreamworld is gonna go with it, and could be seeing new and different things on its horizon with the park having another new owner.

From what it sounds, it wouldn't be too bad if this Cerberus mob took the reins for DW, given it says they already own and operate a large handful of amusement & water parks overseas 

http://www.theaustralian.com.au/business/dataroom/takeover-the-theme-around-dreamworld-owner-ardent-leisure/news-story/11f48994c217cdbb417815c5087d8803

 

Quote

 

The drums are beating louder now that numerous private equity groups are circling listed Dreamworld owner Ardent Leisure, with some questioning whether US-based Cerberus Capital Management has joined The Carlyle Group in working on a takeover bid for the $945 million business.

Cerberus is one of the backers of Ardent’s US-based bowling centre rival, Bowlmor AMF, which is the largest holder of bowling alleys in the world and the owner of 14 amusement parks and two water parks in the US.

Others suggest that TPG Capital and Bain Capital are the sorts of groups that also could be around the situation.

Sources told DataRoom last week that Ardent Leisure had attracted numerous buyout firms that were not just circling the business but actually working on prospective offers, with one group calling on the services of an investment bank to provide funding for a tilt at the business.

 

Thoughts???

[Reanimated35]

As long as the park remains and doesn't go downhill I'm ok with it.

[Brad2912]

I'm sure I read this someone on this forum a few weeks ago? Or maybe somewhere else?

im not the biggest fan of it being bought out by a wholely international corporation or group. I'd love to see it keep some Australian ownership ties. 

 

[Santa07]

I think it's best for Dreamworld to keep Ardent... look what they've done to the park in the past few years. Things have definitely been going uphill and I don't want this to change with a new owner.

[DaptoFunlandGuy]

especially private equity type firms. they usually look to flip it for a quick buck by artificially increasing the stock value.

Dick Smith anyone?

[Original]

I've long thought a merger would be a great thing, especially with a media company, much like Comcast & Disney. 

We already have Village into movie production and theme parks and until a few years ago a radio company with Austereo. 

I'd love to see some big entertainment/media company with the likes of TV company, radio company and theme park company together. If Village did that they could even extend their production into TV shows. 

[downunder]

A Wanda takeover would be good, but venture capitalists are purely about profit - I mean it could go the way of Australia's wonderland if they could get away with turning the land parcel into industrial or residential.

[New display name]

3 hours ago, Santa07 said:

I think it's best for Dreamworld to keep Ardent... look what they've done to the park in the past few years. Things have definitely been going uphill and I don't want this to change with a new owner.

I totally disagree with you here.  Ardent has been doing a better job at up keeping the park of late but it was Ardent who let it get so bad in the first place.  The current CEO has been doing a good job in restoring the park but the last CEO did nothing.  CEO turn over has been every 3 to 4 years, so we will see what the next one does.  Every ride that Ardent build have just been fillers.  Everything the do is to reduce cost and make more money.  Trains replaced, reduced ride hours & vintage cars only running on the weekends is all about increasing the bottom line.  Don’t get skeet wrong, I want the parks to be doing well but on ardent track record I see them never building another ride to the scale of TOT.  A new owner might be DW only chance of us getting a decent new ride.  Ardent do not even spend a cent on pulling down rides that do not operate.

[DaptoFunlandGuy]

1 hour ago, skeetafly said:

Ardent do not even spend a cent on pulling down rides that do not operate.

Sorry Skeet - I know they've left Eureka SBNO (thats a Macquarie legacy though), and Skylink has remnants left over - but skylink chairs and cables were dismantled, reef diver was dismantled and removed, as was the sturt, when they switched to a diesel tractor, they shipped one of their locos off to woodford.

 

They don't have a stellar record, but they hardly 'don't spend a cent'...

[New display name]

Of course a ride was removed if a new ride was built.  They very hardly don't spend a cent.  The boat being removed without being replaced. "Watch this Space" It’s a bit more than just remnants for the Skylink I say.  Try 95% of the operating ride remains.  It's more like they just took the train of the roller coaster track but left the ride behind.  Look through the fence near the rapids at the loading station.  Everything remains. Skeet would even goes as far to say it would be easier to recommission the Skylink then Eureka. 

If you read everything that skeet said and mash it together a bit you will always get a better understating then pulling one sentence apart.

[westical]

Not using third person would make it easier.

[grrofunger]

A private equity purchase would definitely be bad news for Dreamworld

[iwerks]

^ Unless it was Steve Sicerich!

[grrofunger]

1 hour ago, iwerks said:

^ Unless it was Steve Sicerich!

They wont be that lucky.