October 2022: Stonehenge Partners (“Stonehenge”) is pleased to announce a partnership with The Sports Facilities Companies (“SFC” or the “Company”), to fuel the Company’s expansion and service to communities across the country. Founded in 2003, SFC has been involved in the planning, consulting, and operating of many of today’s most notable sports tourism and recreation destinations, hosting more than 25 million annual visits in SFC-affiliated venues. The sports, recreation, and tourism industry is experiencing explosive growth: Youth and amateur sports tourism, currently a $39.7 billion industry (Sports Events and Tourism Association 2021 Report), is predicted to reach $77.5 billion in 2026 worldwide (Evergreen Research Report 2020).
SFC Co-Founders Jason Clement and Dev Pathik commented on the future of the partnership. “We are obsessed with serving communities and families,” Clement, SFC CEO stated. “This partnership allows us to invest in our client and customer experiences in new and different ways. We are focused on the technology, talent, and tools to expand our full-service solution for developing and operating the nation’s highest-performing sports and recreation complexes.”
“This is the ideal time to take on a capital partner who shares our vision for improving communities,” added Pathik. “The Stonehenge model provides the right balance of mission alignment with the current SFC executive team maintaining its significant ownership stake and continuing to lead the companies’ expanding service offerings.”
Andrew Bohutinsky, Stonehenge Managing Partner, stated, “The Stonehenge team is thrilled to partner with SFC. We view the firm’s focus on long-term client relationships, consistent growth, talent, market position, and end-to-end solutions as huge advantages in the highly fragmented sports tourism and recreation marketplace.”
The youth and amateur sports marketplace have been on a steep rise since the early 2000s, with a notable spike in growth in the travel and tourism space since 2014. As municipalities seek solutions in their parks and recreation budgets, invest in travel sports destinations, and compete to be cities of choice for quality of life, SFC is poised to provide the best service and resources. SFC currently operates a growing list of sports tourism, community recreation, wellness, and events properties across 17 states and hosts more than 25 million visits annually.
Chief Executive of the Sports and Fitness Industry Association Tom Cove said of the announcement, “The SFC team has played a significant and positive role in the youth and amateur sports landscape. Their growth and this partnership are testaments to their commitment to excellence. This is great news for the industry and the communities in which SFC serves.”
Current SFC Client Dan Rowe, CEO of the Panama City Beach Convention and Visitors Bureau and former Visit Florida Board Chair, added, “Congratulations to the entire SFC team. They are once again resourcing themselves to lead the facilities management movement in the sports, recreation, and tourism space.”
Sports Facilities Companies has served more than 2,000 communities since its founding and currently operates 40 properties on behalf of municipalities, real estate developers, and private clients, including Myrtle Beach, SC, Gatlinburg, TN, Hoover, AL, Sandusky, OH, Panama City Beach and notable new developments in Fort Bend, TX and Starkville, MS. The SFC team is comprised more than 1,500 team members in 17 states.
To learn more, please visit www.SportsFacilities.com and www.theSFNetwork.com.
About The Sports Facilities Companies
The Sports Facilities Companies (SFC) provide outsourced management and development services for community sport, recreation, wellness, and event facilities. SFC provides full-service solutions to community leaders, municipalities, convention & visitors bureaus, and developers consisting of master planning, program planning, feasibility, development oversight, construction management, and professional management services. The SF Network consists of more than 30 managed venues and 1500 team members serving more than 25 million annual guests while producing over $250 million in economic impact each year.
About Stonehenge Partners
Stonehenge is an Ohio-based private equity firm serving the middle market. Founded in 1999, Stonehenge has a long history of partnering with leading entrepreneurs and managers who are focused on building winning teams, accelerating growth, and creating shareholder value. Stonehenge provides flexible capital that meets the needs of all stakeholders, including majority equity, minority equity, debt, and combinations thereof. Stonehenge has raised $1.4 billion of committed capital and is currently investing out of its sixth institutional fund.
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