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Blackstreet Capital Holdings and Affiliates Buy Two Ice Arenas in Chicago Suburbs
Friday 11 August 2017

11 August 2017 - US-based holding company Blackstreet Capital Holdings' Piney Ice Holdings, Inc affiliate and Ice Rink Holdings, LLC have acquired substantially all of the assets of the American Heartland Arena in Lincolnwood, Ilinois, and Center Ice of DuPage in Glen Ellyn, Ilinois, the companies said.

Each facility houses two sheets of ice and serves youth hockey and other ice sports participants in the metropolitan Chicago area.

American Heartland Arena, located in Lincolnwood, IL, is a year-round indoor two-sheet ice arena with a high-performance training gym that is home to numerous youth hockey and figure skating clubs.

Center Ice of DuPage, located in Glen Ellyn, IL, is a year-round indoor two-sheet ice arena with a world-class figure skating academy.

The arenas are the fifth and sixth ice rinks purchased by Piney.

Other ice rink holdings include Piney Orchard Ice Arena in Odenton, Maryland, Ice World in Abingdon, Maryland, Seven Bridges Ice Arena in Woodridge, Illinois, and Iceoplex at Southpointe in Canonsburg, Pennsylvania. Piney is led by Murry Gunty, president.

The arenas will be managed by Ice Rink Performance Group which also manages Bill Gray's Regional Iceplex in Rochester, NY, Seven Bridges Ice Arena in Woodridge, IL, and Iceoplex at Southpointe in Canonsburg, PA.

Piney is a holding company that seeks investments in sports and entertainment facilities and youth sports events. Piney currently owns and operates six arenas across the United States with a total of 10 sheets of indoor ice and two indoor turf fields.

BCH is a diversified holding company that seeks investments in debt and equity of companies that are either underperforming, in out-of-favor industries or are undergoing some form of transition.
Details
Date Published: 11/08/2017
Target: American Heartland Arena, Center Ice of DuPage
Country: USA
Sector: Leisure/Arts
Type: LBO
Financing:
Status: Closed
Vendor:
Buyer: Piney Ice Holdings, Ice Rink Holdings
Comment:
Terms of the deal were not disclosed

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